Oman LNG

General Business Principles

The General Business Principles state Oman LNG’s responsibilities to its stakeholders and the principles under which it conducts its business affairs and relationships with its stakeholders.

Oman Liquefied Natural Gas LLC is a private company established in Oman by Royal Decree 26/94.

Our Responsibilities

We in Oman LNG LLC recognise four principal stakeholder groups to whom we owe responsibility:

Our Customers Our Employees Our Shareholders Our Society

Our Customers

We will win and maintain customer loyalty by developing and providing products and services which offer value in terms of price, quality, safety, timeliness and acceptable environmental impact, which are supported by the requisite commercial, technological and environmental expertise and standards.

Our Employees

We will provide all employees, on whose commitment and competence the success of the company depends, with safe and healthy conditions of work and adequate and competitive conditions of service. We will develop their skills, talents and potential in a fair and transparent manner and respect their rights under the applicable laws and regulations of the Sultanate of Oman. The company will ensure that there is an open engagement with employees on matters that affect them as employees and support such engagement with responsible exchange of information. Finally, the company will pay particular attention to the recruitment, training and development of Omani employees as articulated in the Shareholders’ Agreement.

Our Shareholders

We have a clear and important duty of care to develop and protect the investment of our shareholders in accordance with global best practices, and operate at all times in a cost effective and prudent manner.

Our Society

We will conduct our business as a good corporate neighbour and responsible citizen of the Sultanate of Oman respecting at all times the fundamental human rights and dignity of all.

We will observe all applicable Laws and Regulations. We will minimise the adverse impact of our activities on the health, safety and environment of the communities in which we operate and contribute to the sustainable development of Oman and its people.

Business Principles

Economic Competition Business Integrity Political Activities The Community Health, Safety, Security
and Environment Communication and
Engagement Compliance

Economic

Part of our mission is to produce, market and deliver LNG safely, reliably and profitably. Sustained profitability is the key objective of our business goals and provides the resource which allows Oman LNG to meet its responsibilities to all its stakeholders. We seek long-term profitability through continuing investment in meeting customer needs based on sound financial foundations.

Competition

Oman LNG supports free enterprise and seeks to compete fairly and ethically within the framework of applicable competition laws. We will not prevent others from competing freely with us. In the same way we encourage fair competition between our contractors and suppliers.

Business Integrity

We insist on Honesty, Transparency, Integrity and Fairness, in all aspects of our business and expect the same from those with whom we do business.

We will not, directly or indirectly, offer, solicit, or accept or pay bribes in any shape or form. Such practices are unacceptable in our business. Facilitation payments are also bribes. We will exercise the utmost care to avoid putting ourselves, or the company as a whole, into a position where we may be called on to accept or repay favours that are detrimental to the company’s interests.

Employees must avoid conflicts of interest between their private activities and company business. Employees have a duty to declare annually to the company any outside interests which could, either directly or indirectly, present them with a conflict of interest, or which involve them in a commercial relationship with the company.

All transactions on behalf of the company must be transparent and appropriately described in the accounts of the company, in accordance with established and recognised procedures and standards, and be subject to audit. The strictest principles and best practices will be applied in maintaining the integrity of the accounting records.

We shall foster and maintain an environment that encourages staff to raise their concerns about unlawful conduct, financial malpractices, misuse or abuse of company assets, through various avenues, without the fear of recrimination or persecution.

Political Activities

The company does not have, and therefore does not state views on either national or international political issues and will abstain from participation in politics and interference in political processes. We will not make payments that are, or could be construed to be, of a political nature neither in a national nor an international context. We have, however, a legitimate right and responsibility to make our views known on matters that affect the company’s interests. This is also the case where the company has a contribution to make on matters that affect the general interest and which are based on our particular knowledge.

We are mindful that transparent cooperation with the Government of the Sultanate of Oman enables the company to maximise its ability to contribute to the efficient utilisation of the Sultanate’s hydrocarbon resources and to pursue our company’s objectives.

The Community

We shall act in a socially responsible manner and to the highest business and ethical standards. Oman LNG aims to be a good neighbour by continuously improving the ways in which we contribute to the wellbeing of the local communities within which we work and the Sultanate of Oman.

In this spirit, we are committed to develop contractors based in the Local Community and consistent with His Majesty’s vision to diversify and develop regional economies.

Finally, we manage the social impacts of our business activities carefully and work with others to enhance the benefits to our communities and to mitigate any negative impacts from our activities.

Health, Safety, Security and Environment

We will conduct our business in a way that does not compromise the health, safety, security or environment of all those involved in or affected by our activities.

Furthermore, we will pursue systematic and continuous improvement in the measures taken to protect the health, safety, security and the environment of those involved in or who may be affected by our activities. To this end we will manage these matters as any other critical business activity, set targets for improvement, and measure, appraise and report performance.

Communication and Engagement

Subject to compliance with applicable laws and business confidentiality, we will:

Communicate and engage with our stakeholders in an open, transparent and timely manner.

Not withhold any information pertinent to effective engagement and communication with our stakeholders.

Compliance

We shall comply with the laws and regulations of the Sultanate of Oman and all other laws applicable to our agreements and contracts. In cases of non-compliance, we shall engage with the appropriate authorities to achieve compliance as quickly as reasonably practicable.

We will comply with externally accredited standards for the management and control of those business processes critical to our business. In doing so, we will strive to achieve the highest standards of Business Governance, consistent with applicable laws, Oman LNG’s Foundation and Shareholders’ Agreements and to Governance Best Practices.