|
•
•
• • • • • • • •
 Download The Code of Conduct
We at Serept and all the people cooperating with us in our daily achievements are motivated by high ethical standards and apply them in our individual areas in our day-to-day work. We are confident that our staff will always give its best and we know that we can expect all those working for our organisation to respect our principles.
Our Code of Conduct applies in all our activities. Our process management systems and our Corporate Guidelines constitute the mandatory detailed implementation of the company policies. They represent the conscientious translation of the Code of Conduct into practice and form the basis of our monitoring systems. Our Code of Conduct applies to all our operations.
Our employees, both permanent and temporary, and our partners, contractors and all other persons acting in the name of the company must in the course of their daily work observe all applicable laws and regulations and be guided by these principles. Where doubt arises as to appropriate ethical conduct, our employees are required to consult their superiors before taking action.
Statement of the General Management
Serept explores for and extracts petroleum in Tunisia, as a subsidiary of OMV and ETAP. Its responsibility is to produce petroleum to provide energy for the growing economy of the country.
The company’s development in recent years has been characterized by sustainability. Our strategy is ambitious and demands outstanding performance and a high level of commitment combined with enthusiasm for shaping trends and setting the pace.The cornerstones of our strategy are the continuation of our sustainable petroleum output to above 10,000 boepd and additional resources in our area of operations.
We have set clear economic targets for ourselves. However, we are also committed to achieving these goal in a value-oriented culture. To this end, we have laid down the basic principles that govern all of our actions in this Code of Conduct.
Our Code of Conduct is based on our values and is the central document of the company how we are to complete our tasks, implement our strategy, and achieve our operational andeconomic goals.
We are committed to implementing corporate responsibility in our company by means of a comprehensive and continual process, which includes embodying this responsibility in our strategy, defining measurable criteria, setting up management systems and defining fundamental principles, standards and guidelines.
On behalf of the Board of Directors, the General Management has drawn up these fundamental principles as an expression of our understanding of sustainability, namely taking economic and ecological aspects and social responsibility into account in all of our decision-making processes and in all of our activities. A key aspect in integrating these principles into our daily business is creating the necessary awareness and willingness to make the requisite changes in attitude. We will consider this need in our training plans and staff development.
The complexity of our business, its influence on the environment and the resulting expectations of the general public are all increasing. As a forward-looking company, we place a high value on transparency and active dialogue with our shareholders, employees, contractors, government and interest group representatives, non-governmental organizations and the general public.
To Serept, growth does not preclude corporate responsibility, on the contrary, CR is an indispensable management tool because sustainable business success can only be ensured when it is achieved taking the environment, health, safety, security, consumer interests and the living conditions of people in our areas of activity into account. Especially the actions that we take under critical and difficult conditions should be oriented towards universally recognized values.
Our Code of Conduct was drawn up internally in collaboration with various stakeholders, mainly our partners. We will welcome statements, input and suggestions for improvements from internal and external persons as an opportunity to improve our Code of Conduct and to better achieve our goals.
Tarak HAMZAOUI General Manager
Andreas SCHEED Deputy General Manager
What We believe in
The primary endeavours of Serept are extracting oil to support the growing economy of the country. Our goal is to increase the activities that we engage in to this end, to grow further and to increase the value of the company.We are committed to a sustainable corporate policy based on economy, ecology and social responsibility.For us, Corporate Responsibility (CR) does not conflict with professionalism and growth, but is an indispensable management tool for implementing our Code of Conduct within the company.
In this way, we improve the environment and create benefits for society - as well as benefits for the company – by minimizing risks, improving our reputation and forming an identity. We are also increasing our level of dialogue with our stakeholders in order to facilitate innovation. We are aware of the fact that many obligations in our Code of Conduct have already been practiced for years.
We are also aware of the fact that there is a need for improvement and enhancement, especially with regards to our stakeholder dialogue and our management systems.Living CR requires a shift in attitudes, which must be developed and enabled by a clear commitment at the executive level, by management acting as models and by appropriate training.
Our principles can be summarized as follows
We are committed to achieving growth and creating value, but our activities should also create economic advantages and lasting improvements in the quality of life for the areas and people that are influenced by our work and our presence. We contribute to sustainable development by taking ecological aspects and social responsibility into account.
When we engage in our activities, we are in line with recognized universal values.Wherever we act, we strive to continually improve our results and our business practices.
Compliance with our Code of Conduct is a daily challenge that can only be met through a continuous process and effort. The implementation of our Code of Conduct covers all core areas of corporate responsibility : employees, human rights, health, safety, security, our relations with our environment and corporate governance including business ethics.We are responsible for our actions, our products and our services and stand by them.
We strive to ensure that our partners apply comparably high standards within our areas of influence and assist them with the implementation of such standards.
Our Code of Conduct is the basis for our contractor management. We are preparing ourselves to be measured based on our existing and future voluntary commitment and are adapting our continual monitoring and periodic reporting systems to this end.
Our Values are UniversalValues
As a joint venture enterprise, we have responsibilities in many areas and to numerous different stakeholders : customers, staff, shareholders, as well as business partners, contractors and suppliers, all of whom have their own individual expectations of us.
Wherever we are involved, our area of concern is shared with many other different interest groups : sister companies, governments, political interests, regulatory authorities, civil society and local residents.
All these interest groups measure our activities and us by high values. Therefore, we aim to develop and demonstrate clear and convincing standards.In establishing our fundamental values and our monitoring and reporting systems we are guided by the UN Global Compact, recognized best practices and we base our general behaviour on the following principles :
• To support and respect the protection of international human rights within our sphere of influence.
• To make sure that we are not complicit in human rights abuses.
• To uphold freedom of association and the effective recognition of the right to collective bargaining.
• To encourage the elimination of all forms of forced and compulsory labour.
• To encourage for the effective abolition of child labour.
• To support the elimination of discrimination with respect to employment and occupation.
• To support a precautionary approach to environmental challenges.
• To undertake initiatives to promote greater environmental responsibility.
• To encourage the development and diffusion of environmentally friendly technologies.
• To work against all forms of corruption, including extortion and bribery.
Our Health, Safety and Environment Reports are being developed on a modular basis, in stages, so that in the medium term we can monitor and report openly on all core aspects of corporate social responsibility.
Staff
Our business success is based on the dedication, creativity and qualification of our staff, above all, on their motivation and willingness to learn.We are happy to recognize their individuality and their desire for personal responsibility.
We take it as understood that they will want to give their best and we want our corporate policies to encourage them to be proud and happy to work for us.
They should be able to find and pursue their opportunities for personal development in the work place.We strive to be one of the best companies to work for and to be a fair and responsible employer that promotes equal opportunities, modern forms of employee development and a positive and dynamic working environment.
Outstanding and motivated employees are the key to the company’s success. Our employees are selected exclusively based on their qualifications, suitability, and performance.
Equal opportunities
It is our policy that all staff should enjoy equal opportunities. Employees and job applicants will not be discriminated against on grounds of age, race, religious conviction, skin colour, nationality, ethnic origin, political or other beliefs, gender, orientation, handicap, or family status.
This principle means that the same treatment must be applied to everyone under a given set of conditions. Whether different conditions apply must be determined solely based on reasonable and objective criteria.
All of the following corporate principles are subordinated to this principle of equal opportunity. In some cases, however, Serept will not be able to deploy staff of a particular group or gender in a particular area due to security reasons.
Recruitment
We are committed to selecting and recruiting employees who are the best suited to the current and future requirements of the job and to supporting their integration into the organization.
The principle of equal opportunity is strictly observed. The use of internal advertisements ensures that existing employees have at least as good a chance as external applicants.
Our employees are selected exclusively based on their qualifications, suitability and performance.We strive to employ people from the areas in which we are operating.
Employment
Our personnel policy is based on longterm employment. Staff and organization should both benefit from long-term working relationships. With this in mind, we take special care in the selection of staff and attach great importance to education and training programs, to conditions of employment and to longterm career development.
We are also aware that job security represents a major concern, not only for the individual employee, but also for society and the region concerned and therefore we make every effort to live up to these responsibilities by planning for possible contingencies.
Where organizational change requires a change in the place of employment or the06Code of Conduct security environment, or a transfer or termination of employment, we evaluate all the options, engage in constructive dialogue and respond with the maximum possible care and sensitivity.
Where, despite training, transfer or development programs, the release of staff becomes unavoidable, we make every effort to take into account the economic and social consequences for those affected.
Employees can also complete their work duties in a way that is compatible with important work-life balance phases with the approval of their supervisors.
Training and development
Our goal is to promote the economic well-being of the enterprise and the longterm employment and personal development of all our staff through training and other development measures.
It is the responsibility of the relevant management together with the Human Resources Department to determine staffing requirements, but employees also bear a large measure of responsibility for themselves.
Important factors in staff development are based on personal values of respect, integrity, loyalty, honesty, flexibility, transparency, innovation, and cooperation.
Training and education are seen as an investment in the employee, with the expectation that there will also be benefits for the organization. Continuing education takes the form of internal and external training courses, and e-learning and training on the job are being encouraged.
Staff development, careerand succession planning
In the context of our policy of long-term employment and with the aim of assuring optimal staff development, there is, as a general rule, an annual process of personal development planning.
This ensures that individual potential is recognized and optimally developed for the benefit of both the individual and the organization, and prevents vacancies arising.
Remuneration policies
The policies of our organization aim for a modern and competitive system of remuneration to ensure that staff is remunerated fairly and at market rates for their adequate input.
The system reflects the legal requirements, prevailing standards within the industry and local conditions, and includes premiums and bonuses for individuals or groups as a reward for especially praiseworthy achievements. In providing fringe benefits, employees’ needs are the principle consideration, along with the need to remain comparable with other organizations.
Human Rights
We believe that economic growth and added value are legitimate goals.Nonetheless, our activities should result not only in economic benefits, but also in improved quality of life for people who are affected by our operations, wherever we are present.
We want to be good neighbours.Wherever we operate, we strictly observe prevailing laws and regulations and show respect for the culture and way of life, with the earnest intention of understanding the special character of our host area.As far as our influence extends, we respect, comply with, and support the protection of human rights in our sphere of influence.
Our ethical standards ensure that our organization does not participate in the abuse of human rights and are in compliance to existing rules and regulations.It is primarily the responsibility of governments to uphold human rights, and we will support this endeavour and encourage their observation.
Assessment of newinvolvements
We review new involvements conscientiously and make every effort to evaluate objectively the foreseeable socioeconomic and sociocultural consequences of our activities, their possible effects on the environment, expected critical safety and security aspects and potential conflicts.
In cases of uncertainty or doubt, we consult suitably qualified experts.For our field operations, we strive to coordinate with ongoing consultation with the local community. We communicate with the relevant national and regional representatives.
As minor participants inconsortia and companies, whatever our degree of involvement, we endeavour to ensure that our partners and the operators employ best business practices.
Human rights abusesin the environmentin which we are operating
Where we are the operator and are made aware of rumours on human rights abuses in the environment for which we are responsible, we immediately bring it to the attention of the relevant authority for their objective investigation of the facts and their background.
Forced labour, child labour,freedom of association
As enterprise, we operate in host areas with the most varied socioeconomic and sociocultural systems and are bound by relevant regulations. Whatever the environment, we respect freedom of association and recognise the right to collective bargaining.
We endeavour to employ locally, accept collective bargaining, and we behave correctly towards employee representatives.A prohibition against forced labour and unlawful child labour is progressively included in all of our contracts with our suppliers.
Development aid and humanitarian projects
Where we support development aid or humanitarian projects, decisions, as to which measures best correspond to the actual needs of the people in our areas of operation, are taken in cooperation with local, regional organisations.
We want to be ideal citizens
It is a matter of principle for us to contribute to the creation of value in our operated areas, as far as this is within our power in our areas of influence.
Where we are the operator or responsible for managing operations, we endeavour to employ locally in accordance with our principles of nondiscrimination.In such cases, we also accept the responsibility of providing these people with the benefits of our standards regarding employee rights and protection.
In partnership situations, we do our utmost to ensure that our partners apply similarly high standards, and if necessary, we help implement them.Our Code of Conduct is also the basis of our collaboration with contractors.
Health, Safety andEnvironment
Wherever we operate, we behave with the express intention of taking as our model the highest standards for health, safety, security and the protection of the environment and with the aim of continually improving our performance in these respects.
Our health, safety, security, and environmental protection policies form an integral part of our mission. All our efforts focus on the continual improvement of environmental, quality and safety standards as well as security best practices throughout the company.
Our health, safety, securityand environmental policies
We take proven and economically effective technologies as a basis and accept responsibility for the health, safety, and security of our employees and for an intact environment. In our own interest and in the interests of the environment we set ourselves ambitious targets for resource conservation.
We proactively emphasise increasing energy efficiency, improved recycling levels, and the reduction of emissions and waste to a minimum.
Our plants, processes and products are developed using state-of-the-art environmental and safety technologies and focus on achieving an acceptable balance between environmental considerations and satisfactory business performance. Our staff are responsible for the occupational safety of their operations and for actively protecting the environment. Their qualifications are kept up-to-date by ongoing training programmes.
Occupational medicine,mitigation of risks, health care, safety and security for local residents and in the workplace
We attach great importance to the health of our employees. Our occupational health measures help our employees to cope on a daily basis with their stress and strain, both, work related and otherwise.
The safety and security of our employees and all persons present at our sites is important to us. We provide periodical training courses to make our employees more security-conscious and to give them practical skills in dealing with sources of danger.
Preventive measures and active incident prevention through substantial improvements in workplace safety and analysis of potential risk factors allow us to optimise our workplace safety performance on an ongoing basis. Safety in the workplace is a management responsibility.
Prevention of safety risks forlocal residents and mitigation of damage
We take active technical, people oriented and organisational preventive measures to reduce risks and discuss measures with the competent local authorities.
Our crisis management system requires that contact persons, workflows, call flows and responsibilities be clearly defined in contingency plans. All plans are tested through irregular practice drills to make sure that they work.
The simulations test the alarm systems, the ability of auxiliary services to cooperate, the management organisation and how well it functions, andthe lines of communication.Our facilities are planned to high safety levels, and we employ contractors who are capable of working with us to achieve internationally recognised safety and environmental standards.
This principle applies irrespective of the particular business segment, so that all processes are covered. Great importance is attached to continual development of up-to-date safety measures within the company for use in ecologically sensitive or densely populated areas.
Environmental protection
Our environmental policies commit us to comply with local safety, security and environmental regulations in all the fields in which we operate and to bring local environmental protection standards up to international industry standards.
This also applies to those countries in which safety, security and environmental legislation are still in the process of development. In this way, we support the use of sustainable business practices, which are economically sound, environmentally friendly and socially aware.We also attach special importance to maintaining biodiversity.
We take responsibility for the protection of biodiversity in the fields in which we currently operate, and will carry on doing so in any future projects.Our experience and the technologies we employ in production and processing are designed to control and reduce undesirable effects on the environment.
Modern soil protection and water conservation in production processes, safe production, storage and transport of our products and up-to-date management of waste and wastewater are standard practice in our company.
Climate protectionand renewable energysources
We see the climate debate as an important contribution to environmental stability and participate actively in it. Over and above that, we accept without reservation the need for active measures to reduce greenhouse gases.
This means that in our own production processes we employ the latest emission reduction technologies, are careful in our use of natural resources and develop, produce, introduce and market modern, environmentally friendly products.
As an oil company, we follow developments in connection with renewable energy resources with interest, take an active part in these developments and adopt an objective and holistic approach to alternative energy sources. We recognise that traditional and renewable sources of energy represent an opportunity to use different energy sources in appropriate areas, subject to considerations of efficiency and security of supply.
Protection of people, assets, information and reputation
Human life is always the first priority for us, and we expect that staff members never under any circumstances - risk their lives to protect company property against malicious or criminal acts.
However, we expect staff members to treat the equipment and information entrusted to them with appropriate care and to use these assets for their intended purposes.The company security standards and documents apply to all employees, consultants, interns, partners and family members of individuals who are under the protection of the company and to all official guests of the company.
Minimum security standards are adhered to and only authorised persons are allowed to enter the company premises and have access to the company information. Staff not following security rules and acting in ways that put their lives or the lives of others at risk will have to bear the consequences up to and including dismissal.
We also expect all staff member to accept responsibility for the impact of their own behaviour and to recognise that their behaviour in and outside their work can potentially have a negative impact on other staff members, the company’s business operations and/or Serept’s reputation or result in the commission of criminal acts against staff members or the company.
Relationships with our Environment
We maintain an open dialogue with community authorities and organisations and with our neighbours.It is our conviction that policies of full information, mutual respect and open behaviour are in the long term the best foundation on which to build and maintain good relationships with the many different stakeholders in the environment in which we work.
We are happy to work in close cooperation with all our contacts in this environment and believe that there are benefits for all parties to be gained from effective collaboration. We work with partners and contractors who respect our organisational policies.Integrity and trust can be affected by personal conflicts of interest.
Openness with respect to underlying interests is important to us. We pay attention to personal interests and motivation and to the negative effects that our activities can have on them.We make a conscious effort to communicate our business policies both existing ones and those still being developed - comprehensively and in detail in order to make clear what we expect from our partners and contractors and what our stakeholders can expect from us.
Partners, suppliersand contractors
We work in close cooperation with our partners, contractors and suppliers and recognise the mutual benefits to be derived from durable relationships and reasonable terms and conditions.
Even in the light of all the advantages obtainable from long-term connections with suppliers, we avoid any agreements, which might be construed as restricting fair competition. While we believe in using all appropriate and legitimate means to further the best interests of our businesses and to achieve our high levels of product and service quality, we are committed to irreproachable integrity in all our business relations.
We account for the sociocultural norms and business practices of our operated areas, provided they are not at variance with our fundamental ethical principles.We do not promise, offer, pay, or accept bribes in order to obtain unethical advantages. The remuneration received by our employees and agents is appropriate and nationally competitive and is paid exclusively for legitimate services.
Gifts, hospitality and similar payments are only permissible within the limits of generally accepted business practice. When in doubt, our employees are required to consult with their superiors on ethically sensitive issues.
We undertake to demonstrably relate commissions and payments to third parties to legitimate business expenses, linked to the services rendered and to account for them openly. We only enter into partnerships with suppliers and contractors who subscribe to our values.We use our collaboration with partners, suppliers and contractors to embed key human rights in their business practices and to increase their awareness of ethical and ecological standards.
Employee representation,interest groups, NGOs
We respect the freedom of association and collective employee representation. We make every effort to work constructively with employee representatives to achieve mutually satisfactory solutions.
This includes collaboration with representatives elected by our employees under local legislation. In our own interest and in that of the industry, the community and society as a whole, we maintain open contacts with trade associations and organisations and relevant interest groups.We welcome constructive criticism and discussion with interest groups that are prepared to engage in open, serious and objective dialogue with us.
Even against a background of differing understandings of roles and problems, we endeavour to accept diverging interests as an opportunity to widen our view of one another. As far as possible, we will work together to resolve conflicts and strive to promote stakeholder involvement.
Collaboration with universities
Where we see mutual advantages, we contribute our knowledge and expertise in applied research and technology, and acquire new insights by commissioning scientific research projects and reviews in exchange. In our search for valuable synergies, we collaborate and cooperate with our contractors.
Regulatory bodies, politicalenvironment, governments
We are making positive contributions to the establishment of national and international norms in collaboration with technical and scientific organisations and other interest groups.
Our approach to the development of laws and norms is proactive, with particular emphasis on assistance in pre-legislative consultation.Any personal financial support can be misinterpreted and is therefore prohibited.
Our function in the political environment as we see it is to provide expert services. Wherever there is an acknowledged need for specific, relevant information to support decision-making, we can make accurate factual information available. We are interested in economic policy and we respect national sovereignties.
Neighbourhood environment, local residents and social investment
We maintain an open dialogue with community authorities and organisations and with our neighbours. We aim to create a climate of confidence in which all those affected by our presence and our operations can articulate their interests.
Where there are conflicts of interest, we seek mutually acceptable solutions.It is our commitment to support communities in our environment of operation and invest in viable and fairly selected social projects.
These projects must benefit the community in the sense of meeting their basic needs and enhance skills and knowledge. We seek collaboration with acknowledged partners in this field for high effectiveness.
Communications
We believe in open communication within and outside the company, that the individual information requirements are satisfied timely within confidentiality adapted to their needs. We maintain open contacts with trade associations and organisations and relevant interest groups.Employee information is considered of great importance by the board.
It is provided in the form of objectives, meetings, personal presentations, and the company portal, in electronic form and via print media. Regular meetings with staff are part of our management style.
Governance
Our governance also includes farreaching voluntary standards of conduct and management principles that create a solid basis for trust through sound business ethics, prudence and integrity.We see the elements of sound governance as an integral part of corporate responsibility, especially those elements that serve to minimise risks and increase the basis of trust with our stakeholders. When dilemmas arise that we cannot resolve alone, we turn to strong networks for support.
Management system
We disclose the responsibilities and competencies of the company’s representatives and boards in the articles of association and in the representative bodies.The Code of Conduct is an expression of our values. As such, it is the central document that governs all of our actions, is a binding corporate guideline.
The management system for corporate responsibility (CR) is laid down in a binding set of regulations that outline the organisational structures, documentation hierarchy, processes and system objectives. Integration of the strategy and company’s decision-making processes is one of the most important elements of the management system.
Code of corporate governance
The independence of the board members is an important criterion. The same applies to the financial auditors, whose fees and other reimbursements are reported transparently for any interested persons.
Risk management
As is the case for the entire oil and gas industry, we are subject to a wide range of risks, especially market risks but also operational, regulatory and political risks.We set up a systematic risk management system to document and limit the most important risks in our areas of activity and have adjusted our strategic orientation accordingly.
Known and assessed risks are managed and controlled by applying defined risk policies with assigned responsibilities at all levels.We are prepared to tolerate more security and safety risks in projects and operations where there is more at stake than for others. We will, however,withdraw from operations where the security risks are disproportionate to the potential benefit for the company or its staff.
Business ethics,Conflicts of interests
We believe that a company’s business ethics play a major part in shaping its culture. Managing cultures means managing results.Representatives of our company must act fairly, with integrity and in accordance with the highest ethical standards - no matter where they are. All conflicts of interest or situations where conflicts of interest could be suspected must be disclosed. We attach particular importance to the proper handling of confidential information and taking precautions to prevent insider trading.
We are aware of the importance of good relations with our stakeholders, and we maintain these contacts.This care includes awareness of the fact that gifts, donations and invitations, whether given or received, can be misunderstood. For this reason, we handle all such situations in a transparent and accountable manner.We respect international and local laws and abide by them. We do not tolerate bribery or corrupt business practices in any form.
When we conclude agreements with our contractors, suppliers and consultants, we take reasonable measures to ensure that compliance with our ethical Code of Conduct is not endangered. Providing our employees with the means to express their concerns and to obtain advice and assistance anonymously when ethical principles are violated is an important instrument for ensuring that we live up to our high standards.
Audit
Audit is an integral part of the control and governance processes of the management and fulfils assurance, consulting and information activities. The approach of the assurance and consulting activities is risk based and they are designed to add value and improve an organisation’s operations. This helps the company accomplish its objectives by using a systematic and disciplined approach and focuses on effectiveness, appropriateness, safety and security, goal orientation and - last but not least - efficiency.
Audit reports to the board
We promote collaboration between the Board and the Auditors, thereby gaining additional benefits in all areas of business security and safety.
Confidentiality
Confidentiality requirements in the company and for all projects ensure that such information is not misused.Compliance with these rules is also monitored, and violations result in corresponding penalties.
| 
