47 ANNUAL REPORT 2022 STRATEGY & OUTLOOK GROUP CEO REVIEW DRIVING LOCAL IMPACT Yinson’s global presence has expanded over the past decade. We are now a multinational company with a presence across 16 countries, and we believe this number will continue to grow in time to come. A key consideration that we take when shaping our plans and strategies are the impacts that we can have in the local communities where we operate. We strongly believe that our performance as a responsible and conscientious stakeholder is important because it gives us the social license to operate, enabling us to continue growing and delivering on our promises. Stakeholder engagement, pg 124; Community engagement, pg 159 Our contribution to the stability, accessibility and affordability of the local energy supply chain is one important way we support the local economy. In FYE 2022, our operating assets produced more than 55 million barrels of oil equivalent (“BOE”), contributing directly to the energy supply in the developing nations of Ghana, Malaysia, Nigeria and Vietnam. FPSO John Agyekum Kufuor (“FPSO JAK”) in Ghana, for example, is an integral part of the infrastructure in the Ghana Sankofa Gas Project, and produces approximately 210 million cubic feet of gas and 58,000 barrels of oil every 24 hours – enough to power approximately 7.1 million Ghanaian households. When our three Brazil assets come into operation, we expect that they will help to produce up to 331.4 million cubic feet of gas and 220,000 barrels of oil per day for Brazil. In the next 3 to 5 years, we anticipate that a sizeable portion of our 5 GW renewables pipeline will have developed into operational plants, contributing to economies in Latin America, Asia Pacific and Europe. We are indeed honoured by the trust that all our host countries have placed in us, and are determined to make good on our commitments to them. Another important way we help to generate local prosperity is by creating job opportunities. As far as possible, we aim to hire locals to fill the positions in our country offices, and invest in training and development to upskill them and progress their careers at Yinson. We believe that increasing the skilled workforce in the country contributes back to the development of the energy industry and local economy as a whole, and this is an important way to ensure the surrounding environment remains conducive for the sustainable running of our businesses. A major benefit of aiming to hire locals is the ability to tap on a much more global talent pool which we can eventually channel to our global projects. We have made some significant investments into Learning & Development last year, implementing a Group-wide Learning Management System (“LMS”) with access to top tier learning modules and actively advocating a learning culture in the Group. Learning Management System, pg 90; Local workforce, pg 88; Human capital development, pg 151 1983 2011 2014 2015 2019 2021 2022 EXPANSION OF YINSON’S GLOBAL PRESENCE 1 country 2 countries 7 countries 8 countries 10 countries 14 countries 16 countries
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