We conduct our business in a transparent and ethical manner
To Lundin Petroleum, it is important to promote transparency in the oil and gas industry so that host countries and communities, owners of the resources, can benefit from our success in finding and producing oil and gas.
Lundin Petroleum prohibits corruption in whatever form it may take, direct as well as indirect, active as well as passive. These principles are established in the Anti-Corruption Policy and implementing Guidelines. Appropriate training is provided to staff throughout operations and compliance is monitored on a regular basis to ensure that all employees understand and adhere to them.
It is important to Lundin Petroleum to be aware of potential corruption risks in its areas of operations and to be informed of how to manage such risks should they arise. This is ensured through:
- Monitoring of global corruption trends, following Transparency International’s Corruption Index, media and NGO reports, as well as legislative developments.
- Assessing corruption risk in areas of operations, tracking corruption potential internally through financial and corporate responsibility reporting, reviews and audits.
- Engaging in the global fight against corruption, actively promoting anti-corruption within the Company and among business partners, participating in conferences and international forums.
Supporting company to the EITI
Lundin Petroleum is a supporting company of the Extractive Industries Transparency Initiative (EITI), which was created to promote open and accountable management of natural resources.
As a supporting company, we report in accordance with EITI requirements in Indonesia and Norway, currently the only EITI Compliant Countries within our countries of operations, as well as communicating EITI’s objectives in different forums. Lundin Petroleum also actively supports EITI processes in countries where it has operations, for example in Indonesia, where it has engaged both with the local EITI secretariat and with government officials.
Lundin Petroleum will continue to support EITI and to promote transparency, as we believe that the transparent accounting of revenues contributes to good governance and the sustainable development of communities in resource rich countries.
Signatory to the UN Global Compact Call to Action on Anti-Corruption
In 2014, Lundin Petroleum signed the UN Global Compact initiative Call to Action, which is an appeal from business to governments to address corruption and foster systems of good governance.
As a signatory, Lundin Petroleum demonstrates leadership on integrity issues,encourages a level playing field in the marketplace and contributes to the implementation and enforcement of anti-corruption laws and regulations.