Introduction> Message from the CEO
MESSAGE FROM THE CEO
The year 2020 has posed an unprecedented challenge for our employees and families, for the communities that have welcomed us, for our Company and for our industry at large. The pandemic and its economic repercussions continue to impact the lives and livelihoods of millions of people in every corner of the planet, making GeoPark’s work even more important as a company that generates real and tangible value for the long term.
In spite of governments’ efforts to contain the virus, COVID-19 has hit Latin America hard. In these challenging times, our main priority has been to keep our teams safe and secure across the six countries where we operate.
We have protected the people who work in our operations, continuously implementing and improving virus prevention protocols, while keeping focused on the security of our facilities and processes. We have also prioritized the health and well-being of our office staff, who without skipping a beat were able to balance their professional and personal lives in a new virtual environment amid the extended quarantines.
In spite of physical distancing, we have kept in permanent and close contact with our neighbors, listening to them and guaranteeing their access to provisions, hospital supplies and personal protective equipment that help shield them from the financial difficulties and health risks they are facing.
In the most exceptional year we have ever had, we have again shown that culture is the most valuable asset of any organization. And, while we cannot control all the factors that impact our industry and our environment, we can control who we are and how we behave.
This is the context in which we present our SPEED/ESG 2019 report, a summary of our environmental, social and governance efforts and commitments that we are publishing in accordance with the Global Reporting Initiative (GRI) standards for the second year in a row. The GRI methodology allows us to communicate with our stakeholders comprehensively, transparently and rigorously. The scope and depth of this report do not just show our progress in 2019 but also how these priorities represent our heart and the core of our business.
We call our report “Creating Value and Giving Back,” the corporate motto we have followed since founding our Company 18 years ago, and which is the foundation on which our principles and our behaviour are built.
The world is experiencing an accelerated and exciting diversification of the energy matrix, with new energy sources and new patterns of energy consumption. However, for decades to come oil and gas will continue to be the biggest, most affordable and most reliable source of energy, indispensable for the well-being of a continuously developing planet.
Since our Company was founded in 2002, we have understood the importance of this responsibility and the opportunity it gives us. In addition to our strength as explorers and producers, this enables us to count on the strong commitment of every GeoPark employee to manage our assets and operations in the most responsible and compatible way with nature and our neighbors.
GeoPark’s model and the reason our ESG (environment, social and governance) performance truly belongs to everyone in the Company — and is not just the responsibility of a particular department — is our integrated value system that we call SPEED.
SPEED is the acronym we use to summarize our commitment in five essential and inter-related areas: Safety, Prosperity, Employees, Environment and Community Development. It has enabled us to attract the best talent, to be the preferred partner and neighbour, and also to be the most efficient and responsible operator.
The values that make up SPEED’s five main components are the following:
FOR SAFETY: We are committed to ensuring that we all return home to our families safely and in good health every day. As with any enterprise — and especially with the complex, sometimes isolated and operational nature of oil and gas — the number one priority must be to keep everyone free from injury and harm.
FOR PROSPERITY: We are managed with the clear objective of achieving sustained economic success. Only an ethical and financially healthy company, that is run with transparency and the highest standards of governance, can grow consistently and create long-term tangible benefits for shareholders and stakeholders.
FOR EMPLOYEES: We are building a safe, stimulating and rewarding workplace. We believe all employees have the right to share in the success of the Company and the opportunity to grow professionally and become leaders. We know that the company that is able to attract, train and retain the best people will always have a competitive edge.
FOR ENVIRONMENT: We are building a safe, stimulating and rewarding workplace. We believe all employees have the right to share in the success of the Company and the opportunity to grow professionally and become leaders. We know that the company that is able to attract, train and retain the best people will always have a competitive edge.
FOR COMMUNITY DEVELOPMENT: We want to be welcomed by the communities where we operate and become the preferred neighbor and partner by creating a mutually beneficial relationship. We are grateful for the opportunity to work within other people’s communities and are committed to listening and learning from our hosts. We understand that unlocking valuable local knowledge is an advantage for our projects — and if our efforts enhance local goals and customs, we will be invited to do more.
SPEED defines our character and guides our behaviors. All of us at GeoPark incorporate these values into every new initiative we undertake.
We invite you to look through the pages of this report and learn more about our activities and accomplishments in 2019, which show continuous improvement in our performance indicators.
Last year we expanded to Ecuador, increasing to six the number of countries in our portfolio. As soon as we arrived in the Oriente basin in Ecuador, we took the first steps in creating a high-quality socio-environmental management plan that promotes dialogue, encourages citizen participation and makes partnerships for the development of the surrounding area — all of which leads to healthy community relationships in the long term.
In 2019, for the second year in a row, we were recognized by the Colombian government for our outstanding social and labor policies, selected from among all the companies in the mining and energy sector.
The market continues to note our progress, as shown by the award we received for our ESG metrics — also for the second year running — from Institutional Investor, a widely-distributed US financial publication.
All of these achievements have been made possible by our employees’ courage, commitment and professionalism, all of whom are shareholders in the Company and participate in its growth and success.
The progress in this report and the challenges of today and in the future are our motivation and push us to be even more innovative, efficient, responsible and committed to creating and delivering value to everyone in the long term.
As always, we welcome your comments on this report and any suggestions you may have to help us keep improving and learning more about how to embrace these valuable and vital issues.
Thank you and my best,