Responsibility

Corporate Responsibility

At RACO, we understand that with our specialised services in the Libyan oil and gas industry comes a significant responsibility not only to our clients and shareholders but also to our environment and communities. As a growth-oriented, value-driven Libyan Oil Services Company, our commitment extends beyond business operations to include the environmental, social, and economic well-being of the Libyan people.

Environmental Stewardship

RACO is dedicated to protecting and preserving the natural environment. Our operations are guided by sustainable practices and strict adherence to environmental regulations. We employ cutting-edge technologies and innovative solutions to minimise our ecological footprint. Key initiatives include:

Emissions Reduction: Implementing technologies to reduce emissions and improve energy efficiency in our operations.
Waste Management: Adopting comprehensive waste management systems to ensure responsible disposal and recycling of materials.
Resource Conservation: Promoting the sustainable use of resources, to minimise our impact on the environment.

Social Responsibility

Our commitment to social responsibility is reflected in our efforts to improve the quality of life for the communities in which we operate. We focus on initiatives that drive social progress and contribute to the welfare of the Libyan people. Key areas of focus include:

Community Engagement: Building strong relationships with local communities through open dialogue and collaboration. We actively listen to community concerns and work together to address them.
Education and Training: Investing in educational programs and vocational training to empower Libyans and build local capacity. We support initiatives that enhance skills and create employment opportunities for the Libyan workforce
Health and Safety: Prioritising the health and safety of our employees, contractors, and community members. We implement rigorous safety protocols and provide regular training to ensure a safe working environment.

Economic Development

RACO is committed to contributing to the economic development of the Libyan oil sector. We believe in creating value for our stakeholders while fostering economic growth through responsible business practices. Key initiatives include:

Local Procurement: Supporting local businesses by prioritising the procurement of goods and services from Libyan suppliers. This helps to stimulate the local economy and create jobs and increases productivity.
Innovation and Technology: Fostering a culture of innovation we invest in research and development to bring the latest solutions to the Libyan oil and gas industry.

Our Commitment to Nature

RACO is dedicated to maintaining an ecological balance that ensures sustainable development for future generations. We are proactive in our approach to environmental conservation and work diligently to mitigate any adverse effects of our operations on the environment. Our efforts are centred on:

Sustainable Practices: Integrating sustainable practices into all aspects of our operations to ensure minimal environmental impact.
Environmental Education: Raising awareness about environmental issues and promoting eco-friendly practices within our organisation and among our partners and stakeholders.

RACO’s commitment to corporate responsibility is an integral part of our business philosophy. We are dedicated to making a positive impact on the environment, society, and the economy. By embracing sustainable practices and fostering a culture of responsibility, we aim to contribute to the prosperity and well-being of Libya and its people. Our goal is to create a legacy of responsible growth and innovation within our sector that benefits current and future generations.

Health, Safety, and Environmental (HSE) Policy Statement

At RACO we know that preventing accidents and ill health, along with protecting the environment, are essential to the efficient operation of our business. We are committed to upholding the highest standards of health, safety, and environmental protection, giving these aspects equal prominence with other business considerations in our decision-making process.

Policy Objectives:

Compliance and Standards: We adhere to international HSE standards both on and off the oil fields, in our enhanced oil services, training, and procurement services to the Libyan oil and gas industry.

Shared Responsibility: Health, safety, and environmental protection are responsibilities shared by everyone working at RACO. The full support of our team, alliance partners, and contractors is vital to the successful implementation of this policy.

Training and Awareness: RACO ensures, as far as reasonably practicable, that all personnel are aware of their delegated health, safety, and environmental responsibilities and are properly trained to undertake them diligently.

Monitoring and Reporting: Health, safety, and environmental performance will be continuously monitored and regularly reported to the Board of Directors. This ensures accountability and transparency in our HSE efforts.

Resource Allocation: RACO ensures that the necessary resources are provided to support our HSE policy fully. We seek continuous improvement in our HSE performance by investing in the latest technologies, training, and best practices.

By integrating these principles into our business operations, RACO is dedicated to creating a safer, healthier, and more sustainable future for our employees, communities, and the environment. We strive to be leaders in HSE standards within the Libyan oil and gas industry, demonstrating our unwavering commitment to corporate responsibility.