Sustainability at VenezOila

Our Sustainability Philosophy

Venezoila was formed with a clear belief: energy security and environmental responsibility must advance together. In the modern era, sustainability is not a slogan; it is a measurable operating system—built on transparency, risk management, continuous improvement, and verifiable outcomes. Our approach aligns to internationally recognized frameworks for environmental and social risk management, including the IFC Performance Standards (a widely used benchmark for project-level ESG management systems). IFC+1

We recognize the complexity of operating in regions where legacy infrastructure, historical underinvestment, and environmental strain have created urgent challenges—especially around Lake Maracaibo. Multiple public reports describe long-running concerns such as oil contamination, nutrient pollution, and ecosystem stress in and around the lake. NASA Science+1
We also recognize that methane emissions—particularly from aging oil and gas systems—are a critical climate issue, and scientific research has specifically examined methane emissions dynamics associated with Venezuela’s oil regions, including Lake Maracaibo. ACP

Sustainability at Venezoila is therefore built around four commitments:

1. Protect people and ecosystems, starting where impacts are most immediate.

2. Reduce emissions, especially methane, flaring, and venting—fast.

3. Modernize infrastructure and governance, so improvements last.

4. Create shared value, so communities benefit alongside investors and partners.

Focus Area 1: Maracaibo and Zulia State

A “Fix-First” Environmental Strategy

Lake Maracaibo is one of Venezuela’s most important ecological and economic assets. It has also borne heavy environmental pressures, including pollution linked to oil leakage and other sources. NASA Science+1
Our priority is a “fix-first” strategy: address the most preventable, highest-impact issues before expanding operations.

Key Maracaibo actions we support and design for:

• Spill prevention and rapid response: modern integrity management, leak detection, and emergency response protocols designed to reduce both frequency and severity of releases.

• Asset integrity upgrades: risk-based inspection, corrosion control, and maintenance programs aimed at preventing chronic leakage associated with aging infrastructure.

• Water and habitat protection: practical measures to reduce contamination pathways and support restoration planning where feasible, coordinated with local and national stakeholders.

• Community health and safety: clear site rules, incident reporting, and a grievance mechanism so community concerns can be raised and addressed responsibly—an element emphasized in globally recognized sustainability frameworks. IFC+1

Methane: Measurable Reductions, Not Marketing

Methane is a powerful greenhouse gas, and reducing methane emissions is one of the most effective near-term climate actions available to the oil and gas sector. Scientific work has highlighted Venezuela—and the Lake Maracaibo region in particular—as a challenging area for methane observation and emissions assessment, reinforcing the need for robust measurement and operational control. ACP

Venezoila supports a methane program built on:

• Measurement: combining on-site detection with credible external observation where available.

• Mitigation: repairing leaks, eliminating avoidable venting, and reducing flaring.

• Verification: reporting progress with consistent definitions and auditable records.

We track best-practice industry benchmarks for methane intensity and reduction, including targets used by major international initiatives focused on methane.

Focus Area 2: National Sustainability Across Venezuela

Building Capacity That Endures

National sustainability is not achieved by isolated projects; it requires standards, training, and institutional capacity. Venezoila’s sustainability model emphasizes:

• Workforce development: training programs that build long-term technical capability.

• Contractor standards: ESG requirements for vendors and service providers.

• Operational transparency: clear documentation, compliance readiness, and responsible governance.

Venezoila also recognizes that Venezuela’s energy sector sits within a broader legal and administrative ecosystem, including environmental obligations and regulatory requirements tied to hydrocarbons operations. IEA+1

Focus Area 3: Global Alignment

Operating to International Norms

Energy is global. So are expectations for environmental stewardship, worker safety, human rights considerations, and community engagement. Our sustainability approach is designed to be compatible with:

• International E&S risk management systems (including IFC-style management systems and stakeholder engagement expectations). IFC+1

• Modern methane and flaring performance norms that leading operators increasingly treat as baseline. ogci.com+2ogci.com+2

We also support the principle that meaningful sustainability requires measurement, disclosure, and continuous improvement, not one-time promises.

Focus Area 4: Sustainability in the United States

U.S. Compliance, Governance, and Responsible Investment Standards

As a U.S.-anchored company, Venezoila’s governance expectations include:

• Compliance culture: documented controls, ethics, and audit readiness.

• Supply-chain responsibility: screening and standards for vendors and contractors.

• Disciplined capital allocation: investments tied to risk management, integrity, and measurable performance.

Sustainability in the U.S. context also means adopting operating disciplines that reflect modern stakeholder expectations: strong safety culture, transparent reporting, and credible environmental controls—so that our corporate footprint (and our partners’ footprint) improves over time.

How We Measure Progress

Sustainability only matters if it can be measured. Venezoila structures its program around:

• Safety metrics (incident rates, preventive actions, training completion)

• Environmental metrics (spill frequency/severity, remediation progress)

• Emissions metrics (methane detection/repair performance, flaring/venting reductions)

• Community metrics (grievances received/resolved, local hiring and training outcomes)

Our Commitment

Venezoila’s sustainability commitment is practical: reduce preventable harm, modernize operations, and build a platform that can responsibly create value in Maracaibo, across Venezuela, in the United States, and in the broader global energy system—with transparency and measurable performance as our standard.