We wish to be recognised as a company that is equally committed to both sustainable growth and the delivery of shareholder value. For us that means focusing not just on what we do, but also how we do it.
Contributing to the economy
LGO hopes to invest an additional €25 million in the Spanish operation
Where possible, LGO aims to contribute to both jobs and economic growth in the countries it operates. This will be achieved in a number of ways, from supporting the goals of regional & national governments
In Spain we are actively seeking to increase the indigenous oil supply, helping to support the government’s energy policy while contributing in a small way to the security of supply. With a partner, once located, LGO hopes to invest an additional €25 million in the Spanish operation in the next 5 years, creating both jobs and support to rural development in the region. In Trinidad there is a national wish to increase oil production from proven fields and LGO is one of the companies playing an active role in that drive through its efforts to raise production and locate additional reserves in Cedros and Moruga. In the future it is hoped that the Goudron Field will also make a materially improved contribution to local indigenous supply raising production from current levels to over 2000 bopd.
Respecting the environment
LGO have a strategy to operate fully self-sustainable production facilities, ensuring we can attain our zero emissions policy
LGO understand how sensitive oil production can be and aim to reduce, where ever possible, the impact on the environment. With a number of our operations in Spain lying within a national park, we are very aware of working within environmentally sensitive areas. This experience will be used elsewhere in the Company, such as in Trinidad, to fully meet and where possible exceed local environmental requirements. LGO have a strategy to operate fully self-sustainable production facilities, ensuring we can attain a zero emissions goal. LGO aim to mitigate the environmental effect of any future work and aims to develop operations in such a way as to not adversely impact the environment.
Our recent work with CIUDEN researching CO2 capture and storage at our Hontomin Field in Spain is an example of a program that will go some way in helping the government reduce carbon emissions and meet the objectives of promoting environmental sustainability.
Supporting the local community
LGO will continue its commitment to invest in our employees through training and job enrichment. We will also seek to help to keep local communities stable and a place where our employees and their families can continue to live and prosper.
We also have plans to sponsor environmental research programs, as well as local community projects
In Spain we are actively educating future generations on the oil and gas industry, including its contribution to the local economy and sustainable development, through training and visits from Universities and schools. In all our operations we seek opportunities to sponsor further training and environmental research programs, as well as providing ongoing support to local community projects.