Our Commitment At Cue, we are committed to upholding high standards in health, safety, and environmental stewardship, recognising these as vital to our business’ long-term success. Our operations are guided by a Board-approved Health, Safety and Environment (HSE) Policy, supported by a robust HSE Management system. The Operational Risk and Sustainability (ORS) Committee, comprising members of our Board of Directors, regularly convenes to review and evaluate the company’s HSE initiatives and operational risks. In FY2024, we are proud to report zero lost time injuries and no significant spills within our operations. In our non-operated joint ventures, Cue plays an active role in promoting high health and safety standards. We thoroughly review incident and health and safety reports, providing critical feedback to ensure the safe and efficient management of all operations. Our commitment to employee well-being is further demonstrated by the ongoing availability of our Employee Assistance Program, ensuring support is readily accessible whenever needed. Working together with our Communities Cue is dedicated to supporting the communities where we operate. Through our joint venture partnerships, we actively contribute to the well-being of local communities around our projects. In our operations, we prioritise local and regional economic growth by adhering to our Capturing Local Economic Benefits Policy and encouraging our partners to do the same. In Indonesia, our operations maintain strong relationships with local communities by offering employment opportunities, developing community facilities, and launching aid initiatives. Within the Mahato PSC, our joint venture operator, Texcal Energy, supported various corporate social responsibility initiatives in the past year. These included educational efforts, such as a sustainable scholarship program and the construction and renovation of schools and dormitories. Health initiatives were also a focus, with the construction of sanitation facilities and the provision of food assistance to malnourished toddlers and pregnant women in the Tapung district. Additionally, humanitarian efforts provided emergency response and aid to communities affected by natural disasters, such as floods and landslides. Medco Energi, on behalf of the Sampang PSC joint venture, continued to support local fishermen near the Sampang facilities by providing economic assistance, including the distribution of fishing nets. Additionally, the joint venture implemented several community support initiatives, including rice field irrigation programs for farmers, training programs to address stunting issues, assistance programs for local small businesses through training and equipment support, and water irrigation assistance programs. Sustainability report Central Petroleum, the operator of Cue’s onshore Australia Assets in the Northern Territory, maintains a close partnership with the Traditional Owners in the area and manages the ongoing relationship and cultural heritage protection on Cue’s behalf. The Mereenie, Palm Valley and Dingo fields are located on the land of traditional owners and administered by the Central Land Council (CLC), with land access agreements are in place. Regular engagement with Traditional Owners is undertaken by Central Petroleum and approval is sought for site activities in our fields which require ground disturbance. Local businesses are supported where possible through local procurement programs and the joint ventures and Cue supports Central’s social investment, involving stakeholders in our projects and providing training and employment across local communities. Cue’s Maari joint venture in New Zealand has committed to a three-year support initiative for two community projects within the South Taranaki District council area. This includes funding the design and installation of a jetty and surrounding area in the town of Patea, as well as the development of a bicycle pump track at Aotea Park Waverly, intended to be used by skateboards, bikes and scooters. Environment Stewardship Cue works closely with our operators and joint venture partners to minimise the environmental impact of our operations. Our ongoing and recently completed projects demonstrate this commitment. We have installed solar panels on the Wortel wellhead platform, which now provides power and reduces the need for using gas or diesel for power generation. Similarly, solar panels have been installed on the Oyong wellhead platform to power the platform’s instrument air compression, replacing the use of bottled nitrogen. This initiative has reduced the marine transport requirements associated with replacing offshore nitrogen supply bottles. In the second half of FY24, we completed a flare gas recovery project at Mereenie, which has led to an estimated 30% reduction in carbon emissions. Additionally, we have optimised fuel burning for power and are investigating the potential to utilise waste, low pressure gas for power generation on the Raroa FPSO. Our commitment to environmental responsibility is further demonstrated by our compliance with the Task Force for Climate-Related Financial Disclosures (TCFD) guidelines, as outlined in this Shareholder Report. All emissions from our New Zealand operations are offset though the purchase of New Zealand Units (NZUs), while our corporate emissions are mitigated through tree planting initiatives. 14 Cue Energy Resources Limited Annual Report 2024
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