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
Where possible, LGO aims to contribute to both jobs and economic growth in the countries it operates. This is achieved in a number of ways, from supporting the goals of regional & national governments to employing local staff wherever practicable.
LGO supports the local economy and employs a local workforce in Spain and Trinidad
In Spain we are actively seeking to increase the local oil supply, helping to support the government’s energy policy while contributing in a small way to the security of supply. LGO is seeking to boost investment in the Spanish operation, 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 Goudron and Icacos, and in the longer-term through exploration in Cedros area. LGO took over Operatorship of the Goudron Field in October 2012 and it is already making a materially improved contribution to local indigenous supply with production raised from pre-LGO levels of circa 40 bopd to over 250 bopd.
Respecting the Environment
LGO understand how sensitive oil production can be and aim to reduce, where ever possible, the impact on the environment. With operations in Spain lying within a national park, we are very aware of working within environmentally sensitive areas. This experience has been transferred elsewhere in the Company, and is evident in our operations in Trinidad, where we fully meet and where possible exceed local environmental requirements. LGO aim to mitigate the environmental effect of our work and to develop operations in such a way as to avoid impact on the environment.
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.