Yinson Annual Report 2020

107 Annual Report 2020 Governments and regulatory bodies The Group has operations in 11 countries, with active offshore production assets operating in three countries during the financial year in review. Yinson ensures our compliance with applicable legislation is in order to maintain our license to operate. At the same time, we also comply with industry-specific regulations, which determine the boundaries within which our business is permitted to operate, such as with regards to financial management, health and safety, product quality and labour practises. The Group undergoes all necessary accreditation processes to remain compliant, and is committed to providing information in a transparent and reliable way that allows the correct assessment of the issues inherent to our business. We also place great emphasis on compliance as this is a key way to achieve greater transformation and impact in the local communities where we operate. FPSO JAK FPSO Adoon FPSO Helang Host country Ghana Nigeria Malaysia Flag country Singapore Singapore Malaysia Main regulatory bodies we engage with • Petroleum Commission • Ghana Revenue Authority • Ghana Immigration Service • Environmental Protection Agency • Registrar General’s Department • District Assemblies • Ghana Maritime Authority • Bank of Ghana • Department of Petroleum Resources • Nigerian Content Development and Monitoring Board • Marine Department of Malaysia • Department of Occupational Safety and Health • Department of Environment Malaysia • Malaysian Communications and Multimedia Commission • Civil Aviation Authority of Malaysia • Malaysia Petroleum Management, PETRONAS Methods of engagement • Regulatory trainings and briefings • Compliance with quarterly and annual reports on local content • Application for regulatory approvals and consents • Annual audits and monitoring and inspection • Work and resident permit issuances • Access to the vessel and operations bases in Accra and Takoradi to conduct assessments to issue our various permits and licenses • Obtaining and annual renewal of permits to operate • Kick-off, engagement and clarification meetings as required • Submission of various performance and compliance reports • Quarterly reviews and annual audits • Regular inspections, audits and surveys • Applicable license fees • Compliance with applicable regulations • Competency trainings as stipulated in the regulations • Meetings and engagements