Page 53 - Demo

GOVERNMENT ENGAGEMENTThe communities and societies in Valeura%u2019s areas of operation, as well as government agencies at all levels, are crucial stakeholders in the success of Valeura%u2019s business operations. Valeura has established a framework and process for government engagement including government stakeholder identification and analysis; the development of a regulatory and permits register; the creation of a government engagement plan; and execution of government engagement activities. This framework is designed to ensure regulatory compliance, foster collaboration, and promote transparency in the conduct of businesses operations and projects execution. Valeura maintains ongoing engagement with a range of key government stakeholders, including the Department of Mineral Fuels, Ministry of Energy, Office of Natural Resources and Environmental Policy and Planning, Provincial energy offices, Customs Department, and the Revenue Department. In its offshore operations areas in the Gulf of Thailand, the Company works closely with the Royal Thai Navy and Marine Department to coordinate security measures and ensure emergency preparedness. At onshore facilities in Songkhla and Chonburi provinces, Valeura maintains strong partnerships with provincial and local governments to support logistics needs including warehousing and material transport for offshore activities. The development of a regulatory and permits register is required on a yearly basis to support routine activities and operations. All applicable permits, notifications, and approvals are required to ensure full compliance with statutory and regulatory requirements. Examples of required permits include well proposal submissions, daily drilling reports, monthly activity reports, Environmental Impact Assessment (EIA) compliance reports, well plug and abandonment approvals, and waste and greenhouse gas (GHG) report submissions. At the same time, regulatory and permits registers for new projects are identified and developed to align with key milestones throughout the project%u2019s lifecycle. Examples of required permits for projects typically include submissions for new development projects and decommissioning activities, with reports including the Initial Decommissioning Plan (IDP), and the Decommissioning Environment Assessment (DEA).Valeura proactively engages with relevant government authorities to obtain required regulatory permits and approvals and submit reports in a timely manner. The Company adheres to strict compliance with legal and regulatory requirements, and continuously develops action plans to support approval requests, report submissions, and documentation processes to meet government requirements and expectations. VALEURA ENERGY INC. 053