ENVIRONMENTAL ISSUES FOR EXPLORATION AND PRODUCTION COMPANIES IN SOUTHEAST ASIA

Abstract

For new entrants and existing operators in the petroleum exploration and production sector in Southeast Asia, there are many business challenges to face. In particular, environmental performance expectations are changing at a rapid rate. The key to successful environmental management of the business is having a sound understanding of what is going on in the location of the company's operations, and being aware of internal and external, direct and indirect influences that will affect environmental management performance expectations and hence operations over time.

Companies that develop such an awareness will be prepared for changes in public policy and the regulatory system, and react appropriately to unanticipated change or incidents. Companies who know that they are in control of their environmental impacts and have full knowledge of the status of their environmental management practices, will be able to publicly defend their practices. Knowledge and understanding of the institutional framework in which they operate, will enable companies to be better prepared to influence potential developments in the regulatory system, and participate in the development of an effective and practical regulatory system.