ShaMaran Petroleum Corp. (“ShaMaran” or the “Company”) believes in the importance of a sensible Environment, Social and Governance (“ESG”) policy for all its business dealings and commits this statement to all its stakeholders and potential future investors. For more details please see the complete ESG policy statement.
Environment
Environmental, social and governance considerations are important to ShaMaran. The Company has supported the Hasar 2025 Vision (including the Million Tree Project) being developed and administered by Hasar for Earth Sciences (“Hasar”), a non-governmental organization formed in the Kurdistan region of Iraq. With the Company’s financial, technical, legal and administrative support, Hasar has planted approximately 300,000 trees in Erbil.
In addition, (i) the Atrush joint venture has been advancing the deployment of a gas solution to meet its commitment to bettering the environment in Kurdistan; and (ii) the Sarsang joint venture has in 2023 installed an amine facility in its field operations to displace diesel use and reduce its greenhouse gas emissions by utilizing the resulting sweetened gas for some of its operations.
Social
The Company is committed to making a positive difference to the communities wherever it conducts business and strives to be a partner of choice in the communities where it works, with a strong commitment to optimizing local content.
Governance
The Company commits to the highest standards of professional and ethical conduct from our employees, directors and officers, all of whom must conduct themselves in accordance with its Code of Business Conduct and Ethics (the “Code”). The Company also requires agents, representatives and consultants to follow the Code. The Company equally commits to fully comply with all applicable statutory and regulatory requirements in the jurisdictions where it conducts business.
The Company has a Board of Directors that is annually elected by its shareholders to manage and oversee its business. The Company follows a Code of Business Conduct and Ethics and an Insider Trading and Disclosure Policy, both of which have been updated in September 2023 by the Company’s Board of Directors to ensure proper and transparent corporate governance.
The Company is listed on the TSX Venture Exchange (Canada) and the Nasdaq First North Growth Market (Sweden) under the symbol “SNM” and operates in full compliance with the rules and regulations of these exchanges.