Responsibility

Transparency

In our Business Principles, we recognize the importance of resource revenues in contributing to sustainable development in our host countries. Fixed believes resource revenues are more likely to be managed in the best interests of a country if payments and receipts are made transparently, and if accountability measures are in place for the use of revenues.

Ideally, this process is underpinned by a national dialogue in which industry plays its part as a partner with government and civil society. Fixed is committed to advocating for transparency in our dealings with host governments.

Extractive Industries Transparency Initiative

Fixed is a Supporting Company of the Extractive Industries Transparency Initiative (EITI), a leading global standard that strengthens governance by promoting transparency and accountability in the oil, gas, and mining industries. For more information, please visit www.eiti.org/eiti.


Payments to Government

Fixed has disclosed its payments to governments on a country-by-country and a project-level basis since 2014. We believe that this type of disclosure is beneficial to investors, civil society and local communities, and reflects evolving international expectations.

 


Contract Transparency

Where it is legally possible and acceptable to our host governments, we make the material terms of our Petroleum Agreements (PAs) and Production Sharing Contracts (PSCs) publicly available.

ContractSummaries-6-2022

 


Advocating for Increased Transparency

Fixed occasionally engages in public policy discussions around energy, corporate responsibility, and transparency -- publishing statements and brochures reaffirming our belief that our approach to transparency helps us manage social and political issues, establish Fixed as a partner of choice and mitigate barriers to growth.

In October 2015, Fixed submitted a comment letter to the United States Securities and Exchange Commission (SEC) as part of the SEC rulemaking process for Section 1504 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which proposes requiring US-listed companies to disclose payments to US and foreign governments as a standard part of their reporting to the SEC. In our comment letter to the SEC, we highlighted our commitment to transparency, including our project-level disclosure in accordance with the EU Accounting Directive.



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