HOUSTON, Nov. 19, 2018 (GLOBE NEWSWIRE) -- Apache Corporation (NYSE/Nasdaq: APA) has released its 2018 Sustainability Report. The online report features extensive disclosure of Apache's performance in governance, economics, environmental stewardship, health and safety, workforce development and community engagement. The report is available at www.apachecorp.com/Sustainability.
John J. Christmann IV, Apache's chief executive officer and president, said, “At Apache, we understand that our company’s success hinges upon our ability to produce lasting benefits for all stakeholders, including our investors, our employees and the communities in which we operate. To accomplish this, we are building for the future sustainably by investing in innovative operational approaches that deliver environmental, social and financial returns.”
Among the highlights, the 2018 report:
- Provides increased transparency on Apache's most material sustainability issues - Apache undertook a materiality analysis in 2017 to identify the issues that are most important to our stakeholders. Based on this analysis, the company is already reporting on all the issues stakeholders rank at the highest level of importance. In this report, Apache increased the level of disclosure on many of these topics, including water use and sourcing; water quality and wastewater management; greenhouse gas (GHG) emissions and energy use; sustainability; health, safety and environment (HSE); social issue management; regulation and compliance; and risk management.
- Highlights Apache’s efforts to foster a culture of innovation and continuous improvement - The featured innovation section outlines Apache’s efforts to explore and implement new and better technologies and streamline processes companywide. For instance, Apache worked to apply advanced data analytics to enhance our drilling performance results and reduce operational costs; develop innovative ways to recycle and reuse produced water; and improve seismic surveying technology to better locate and unlock oil and gas reserves.
- Provides an in-depth update about our work in Alpine High - The report details how Apache is protecting local resources, implementing best management practices and coordinating with key community leaders to ensure the safe and responsible development of its new multidecade resource play, Alpine High.
- Addresses stakeholders' most frequently asked questions - The report contains a special section that answers stakeholders' most frequently asked questions. The section provides concise yet thorough answers about how Apache is addressing these issues and points readers to more detailed, related content throughout the report.
The report also highlights Apache's performance in key sustainability areas, including:
- Improving health and safety - Since 2013, Apache has reduced safety incidents for employees and contractors by lowering our Total Recordable Incident Rate (TRIR) by 41 percent and Days Away, Restricted or Transferred (DART) rate by 50 percent.
- Reducing methane emissions - Apache is on track to meet its goal to reduce methane emissions intensity to 0.36 percent by 2025. In 2017, the company's global methane emissions intensity was 0.43 percent, a 9 percent reduction from 2016.
- Using alternatives to fresh water - In 2017, only 2 percent of Apache's water withdrawals were fresh water. Apache uses recycled produced water and nonpotable, brackish groundwater to reduce its use of fresh water.
- Benefiting our communities - Apache aims to benefit our communities by hiring and spending locally. In 2017, 97 percent of Apache employees were local nationals, and nearly 30 percent of the company's spending was with local vendors. Apache also contributed $34 million in local taxes assessed upon current company reserves.
The 2018 report was prepared using the Global Reporting Initiative’s (GRI) Sustainability Reporting Standards and meets the requirements for a core-level report. GRI is a nonprofit organization that promotes economic, environmental and social sustainability. Its comprehensive sustainability reporting model is widely used around the world. Also consulted were the Sustainability Accounting Standards Board (SASB), IPIECA’s Oil and Gas Industry Guidance on Voluntary Sustainability Reporting, and Disclosing the Facts 2019.
Apache Corporation is an oil and gas exploration and production company with operations in the United States, Egypt and the United Kingdom. Apache posts announcements, operational updates, investor information and press releases on its website, www.apachecorp.com, and on its Media and Investor Center mobile application, which is available for free download from the Apple App Store and the Google’s Play store.
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Source: Apache Corporation