CALGARY, Alberta, June 29, 2012 /PRNewswire/ --
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.
For further information:
Davis Sheremata
Manager, External Communications
Phone: +1-403-470-1447
801 - 7th Ave SW, Calgary, Alberta,
Canada T2P 3P7
http://www.nexeninc.com
