CALGARY, June 28, 2012 /CNW/ - Nexen Inc. reported today the release of
its 2011 Sustainability Report - a review of the company's health,
safety, environmental, social and economic performance for the year.
The report outlines Nexen's performance in 2011 and provides
performance trends for the past three years.
"This report summarizes our commitment to being a responsible energy
company in health, safety, environmental, social and economic
performance," said Kelly Kowalchuk, Vice President Health, Safety,
Environment & Social Responsibility. "It offers a candid look at the
opportunities and challenges our company experienced in 2011 and our
strategies to manage these going forward. At Nexen, we believe it's not
just what we do that matters — it's how we get the job done. And this
is ingrained in everything we do."
Highlights from the report include:
Achievement of a record-setting Total Recordable Injury Frequency
(TRIF). Nexen achieved a TRIF of 0.22 for employees only and 0.67 for
employees and contractors combined in 2011.
Improvements in reducing the volumes of spills over 2010. The volume of
spills decreased by 67% and the number of crude oil, chemical and
produced water spills decreased by nearly 5%.
Establishment of a data management system to centralize waste and water
data across the company.
Steady investment in Nexen's three priority areas: education excellence
and innovation; supporting community; and celebrating arts and culture.
Nexen invested approximately $11.3 million to communities where we
operate in 2011.
Significant contribution to the economy. Nexen invested $2.5 billion in
goods and services and contributed approximately $2.3 billion in income
taxes and royalties.
Being a responsible energy developer means continuously working to make
internal process improvements and Nexen's Sustainability Report
identifies improvement areas, including steps to further strengthen
safety performance and manage environmental exceedances. For 2012,
Nexen has set sustainability commitments which include:
Revising the company's Occupational Health and Industrial Hygiene
procedures and ensuring awareness across the company.
Advancing a water monitoring program at Nexen's shale gas operations in
northeast British Columbia.
Conducting a benchmark study on Nexen's approach to Aboriginal Relations
and identifying improvement areas.
Nexen created the 2011 Sustainability Report using the Global Reporting
Initiative (GRI) G3.1 guidelines - an internationally recognized
standard in sustainability reporting (Application Level B+). For the
past nine years, Nexen has engaged the guidance of an External Advisory
Group (EAG) to provide feedback on the company's sustainability
management, performance and disclosure. Members of the EAG are
representatives from a diverse group of experts. Since 2004, Nexen has
had select performance indicators assured by an external verifier; 2011
data was assured by Deloitte & Touche LLP.
Online disclosure, which includes articles, photos, data tables, charts
and graphs and videos featuring Nexen employees, partners and
stakeholders, provides comprehensive sustainability information that
complements the print report. Both are now available at http://www.nexeninc.com/en/ResponsibleDevelopment/SustainabilityReport.aspx
Nexen Inc. is an upstream oil and gas company responsibly developing
energy resources in some of the world's most significant basins — the
UK North Sea, offshore West Africa, the Gulf of Mexico and Western
Canada. The company is strategically focused on three businesses:
conventional oil and gas, oil sands and shale gas. With a high-quality
asset base and significant growth on the horizon, Nexen is
well-positioned to deliver long-term shareholder value. Nexen is listed
on the New York and Toronto stock exchanges under the symbol NXY.
This news release and both Nexen's print and online sustainability
report, contain forward-looking statements and forward-looking
information, including statements regarding: business strategies;
expected production growth and developments; planned environmental and
regulatory targets, performance, monitoring and initiatives; planned
safety targets and programs; planned studies, evaluations and internal
management system audits; planned emission monitoring, reporting,
reduction and recovery; planned technological and systems advancements,
developments, implementation, testing and initiatives; planned support
of research; planned emissions offset and climate change policy;
planned stakeholder collaboration; planned updates to Human Rights
policy; planned Aboriginal relations policy and strategy; planned
employee health initiatives; planned scholarship programs; planned
community commitment including employee volunteer program, direct
contributions and matching; statements about possible future events,
conditions, results of operation or performance; and changes in any of
the foregoing. All forward-looking statements in this report are based
on Nexen's current expectations, estimates and projections, and are
qualified by the assumptions that are stated or inherent in such
forward-looking statements. Although we believe these assumptions are
reasonable, readers should not place an undue reliance on these
assumptions and such forward-looking statements. The forward-looking
statements are subject to known and unknown risks and uncertainties and
other factors which may cause actual results, levels of activity and
achievements to differ materially from those expressed or implied by
such statements. Except as required by law, Nexen undertakes no
obligation to update publicly or revise any forward-looking statements,
whether as a result of new information, future events or otherwise. The
forward-looking statements contained herein are expressly qualified by
this cautionary statement. Readers should also refer to the Risk
Factors contained in our 2011 Annual Information Form, and to the
Quantitative Disclosures about Market Risk and our Forward-Looking
Statements contained in our 2011 Management Discussion and Analysis.
All financial information is in Canadian dollars.
SOURCE Nexen Inc.
For further information:
Manager, External Communications
801 - 7th Ave SW, Calgary, Alberta, Canada T2P 3P7 www.nexeninc.com