Oil and gas companies are facing increasing demand to conduct their operations in the context of and consistent with environmental goals. Investors, customers and governments are more actively following companies’ performances on environmental responsibility. Atlantic Petroleum's operations are subject to a number of environmental laws and regulations in each of the jurisdictions in which the Company operates. Atlantic Petroleum will in the future have long-term obligations concerning decommissioning of operational facilities. Atlantic Petroleum will establish financial reserves for estimated environmental liabilities based on information with respect to the liabilities.
All oilfield developments in the UK, Ireland and the Faroe Islands are subject to approval by the environmental authorities. Prior to such approval, a full and thorough environmental impact assessment is carried out. The reason for such investigation is to ensure that the environmental impact will be reduced to as low as reasonably practicable.
Atlantic Petroleum's EHS policy can be read by following the EHS policy link.