#Sustainability #Sinopec #Algeria #Algiers

Sinopec's First Sustainable Development Report in Algeria

On December 27, 2024, the China Petroleum & Chemical Corporation (HKG: 0386), widely known as Sinopec, made a significant stride by publishing its first-ever sustainability report, titled Sustainability Report on Serving the Construction of the Belt and Road - Sinopec in Algeria. This milestone marks a notable achievement as it is the first sustainability report released by a Chinese company in Algeria, showcasing Sinopec's commitment to meeting economic, safety, environmental, and social responsibilities while advancing the vision of a New Algeria.

Sinopec in Algeria: A Vision for Sustainable Cooperation

Algeria, recognized as the largest country in Africa and boasting the continent's fourth-largest economy, serves as a pivotal location for Sinopec's operations. The corporation's overarching goal is to foster open cooperation and facilitate mutual benefits, striving to create long-term sustainable partnerships that enhance the lives of local communities. Sinopec is devoted to establishing a balanced model that harmonizes oil and gas exploration with environmental conservation and social advancement.

Key operational areas for Sinopec in Algeria include oil exploration and development, petroleum engineering, refining, and chemical engineering. Recently, Sinopec entered into a new partnership agreement with the Algerian national oil and gas company SONATRACH regarding the Zarzaitine oilfield, which strengthens their collaboration.

Commitment to Excellence and Environmental Stewardship

Sinopec emphasizes high engineering quality and premium service delivery standards. A standout project includes the construction of a desert water pipeline, aimed at alleviating drinking water shortages for about 50,000 residents in Tamanrasset. This project was recognized with an outstanding contribution award for Sino-Algerian cooperation, reflecting Sinopec's commitment to sustainable development.

Sinopec strictly adheres to local safety and environmental regulations while continuously enhancing its safety management protocols. The company has taken proactive measures in environmental protection, implementing green construction techniques and safeguarding biodiversity in Algeria. Notably, they established an electrical safety committee for the Zarzaitine oilfield, conducting 42 Health, Safety, and Environmental (HSE) inspections and investing over $3 million in safety and environmental protection initiatives.

Community Engagement and Local Workforce Development

In a bid to support local communities, Sinopec has launched various public welfare projects, such as voluntary tree planting campaigns and waste management efforts. The company prioritizes workforce development, creating nearly 1,000 job opportunities at the Zarzaitine oilfield and offering avenues for career growth.

Sinopec's commitment extends to concrete actions that benefit local residents, including rehabilitating wells in remote desert regions to provide them with clean water. The company also engages in cultural exchange activities, such as hosting diverse community events and participating in local festivals. Their China Bookshelf initiative aims to enhance cultural collaboration, while donations of medical supplies and educational materials to local institutions have garnered acclaim throughout the community.

A Model for Future International Partnerships

As Sinopec sets forth its sustainability aspirations in Algeria, the report provides a transparent look into the company's ongoing efforts. It embodies a pioneering approach in aligning business interests with societal needs, positioning Sinopec as a leader in sustainable practices within the energy sector.

Through this initiative, Sinopec is not merely focused on profit generation but is actively participating in the socio-economic upliftment of Algeria, setting a standard for future foreign investments in the region. With a view towards achieving both economic and sustainable growth, Sinopec aims to serve as a model for responsible corporate citizenship across the global stage.