Business Ethics Policy

Petroceltic International plc (“Petroceltic” or “the Company”) is committed to conducting business in a transparent and ethical manner across all of its oil and gas exploration, development and production operations. Petroceltic aims to ensure that all its activities are conducted fairly and honestly and each person connected with Petroceltic has individual responsibility for maintaining an ethical workplace. Consistent with this business philosophy, Petroceltic strictly adheres to anti-bribery and corruption principles under which the Company will:

  • not tolerate the solicitation or payment of bribes in any form for any purpose;
  • seek to avoid being placed in situations where its judgement (and that of its workforce) might be influenced or appears to be influenced by improper considerations;
  • not make “facilitation payments”;
  • ensure that all dealings with public officials are conducted in an ethical and transparent manner;
  • ensure that the receipt or provision of gifts and hospitality are regulated by clear ethical guidelines; and
  • maintain adequate procedures to support the efficient operation and implementation of the Policy.

The Policy places an active responsibility for compliance on all Petroceltic employees and associated persons and training initiatives will be conducted on an ongoing basis to ensure its effective implementation.

Petroceltic demands the highest standards of integrity in the conduct of its business. The Company does not tolerate bribery or corruption in relation to its business, anywhere or in any form and will comply with anti-bribery and anti-corruption laws in the countries in which it operates. As such, the Company’s Policy is consistent with recent changes to legislation and, in particular, the UK Bribery Act 2010.