Annual Report 2011

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CORPORATE RESPONSIBILITY Bredford Dolphin. They were reported due to the potential damage they could have caused if they had fallen on a person. Non-conformances with permits/consents: zero funding or taking part in projects which promote environmental protection, positive values and welfare in society (see below). As part of its operations in Sudan and to respond to the precarious socio-economic conditions of the local community in its concession area, Lundin Petroleum elaborated a Community Development and Humanitarian Assistance Programme (CDHAP) which included projects in the field of freshwater supply, health, education and capacity building. CDHAP projects were carried out by dedicated and qualified staff. The Company also put in place an extensive stakeholder engagement programme in order to learn from others’ experience and expertise and to promote a peaceful resolution of the conflict. The commitment to have a positive impact on society continued as Lundin Petroleum’s activities shifted to Europe and Southeast Asia. In 2004 the Company devised a Donations’ Policy which elaborated on the criteria to follow in selecting projects, and in 2010 it issued Sustainable Investment Guidelines which outlined two categories for contributions: community development projects and corporate donations. Community development projects take place in countries of operations; they are part of the assets’ work programme and budget and their extent is related to the country’s socio-economic context and the level of the Company’s activities. Corporate donations are issue, rather than geographically, based; they are an expression of Lundin Petroleum’s commitment to positively impact societal issues of global concern, as expressed in the United Nations Global Compact and the Millennium Development Goals. The projects described below reflect the types of issues which Lundin Petroleum has addressed through community projects, donations or personal participation during the course of 2011. Child Welfare Children represent the future; their welfare is an important sustainability issue: Lundin Petroleum has supported SOS Children’s Villages, Sweden (SOS) from the start of its Corporate Donations Program in 2006. Over the years, the Company has contributed to children’s villages in operated (Indonesia, Tunisia) as well as non-operated (Vietnam, Cambodia) areas. The uniqueness of SOS’s approach and its evident impact on the welfare of children has been recognised by visiting Group and country-based staff. In 2011, Lundin Petroleum continued to support SOS Villages in Indonesia and Tunisia, affording staff the possibility to get personally involved with the organisation and the children. Through its subsidiary in Norway, the Company contributed to Save the Children Norway, whose mission is to provide emergency relief and long term aid to children. Through its subsidiary in Russia, the Company contributed to the running costs of the Sasykol orphanage in 2011, an orphanage it had helped refurbish in 2009 and 2010. Lundin Petroleum also made a financial contribution to Stockholm’s International Women’s Club’s fund-raiser for the World Childhood Foundation. TRANSPARENCY Lundin Petroleum believes that open dialogue with stakeholders not only helps the Company in identifying and addressing CR issues but also enables stakeholders to better understand the reality of its activities and its way of dealing with its CR challenges. Stakeholder engagement takes, among others, the following forms: » participation in international or country initiatives (UNGC, Petronas HSE Forum) » participation in workshops (Business and Humanitarian Forum, Institute of Graduate Studies) » participation in surveys (Carbon Disclosure Project, Sustainalytics, Sustainable Value Creation, Trucost, Vigeo, etc.) » CR presentations in academic institutions (University of Geneva, IMD Lausanne, IMI-Kyiv, Institute of Graduate Studies, etc.) » individual meetings with shareholders, NGOs and media on CR issues, etc. » responses to individual inquiries from media, NGOs, students, etc. » reporting in Extractive Industry Transparency Initiative compliant country (Norway) EMPLOYMENT PRACTICE In accordance with its Code of Conduct commitment, Lundin Petroleum seeks to ensure equal opportunity without discrimination on the basis of age, culture, disability, gender, race, religion, etc.; the overriding criterion is the person’s competence and qualifications to perform the job. Other than gender, which the Company reports on under the Financial Statements for the Group of its Annual Report, the Company does not distinguish employees based on any of the above listed attributes. The percentage of women working for Lundin Petroleum Group wide in 2011 was 32 percent (versus 30 percent in 2010), with country percentages ranging from 19 to 57 percent (versus 16 to 57 percent in 2010). SUSTAINABLE INVESTMENTS From its inception Lundin Petroleum has been committed to finding oil and gas in a responsible way and to positively impact people and the environment. Its main contribution to the people in the area it operates is through the economic windfall oil represents; the Johan Sverdrup discovery in 2011 in Norway, for example, is expected to produce significant revenues in the decades to come for the Norwegian government and its people in the form of taxes. Lundin Petroleum’s main contribution to the environment is to limit its footprint by using environmental friendly equipment and products. Lundin Petroleum, however, also contributes by 38 Lundin Petroleum ANNUAL REPORT 2011

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