Health, Safety & Environment ('HSE') Policy

First adopted by the Board 12 September 2007

Introduction

SubSea Resources plc ('SubSea' or 'the Group') is committed to managing the integrity of its operations and business activities in a responsible manner. It is the Group's policy that the safety, health and welfare of our employees and those of our partners and sub contractors is of primary importance. This will be achieved by pursing a HSE strategy that is designed to reduce accidental risk and minimize the environmental impact of its global operations.

Marine Environments

Due to the nature of our business, we will do our utmost to ensure that the marine environments in which we operate remain substantially unaffected by our salvage operations.

Commitments

The Group is committed to:

  • Providing a safe place of work and a healthy working environment
  • Complying with UK Government and, where applicable, all other applicable laws and regulations pertaining to health safety and welfare of personnel
  • Promoting health and safety measures as an integral part of the duties of management, seeking continuous improvement in safety performance through the Group's Safety Management System / systems of work and affording the implementation of such measures the highest priority
  • Promoting health and safety awareness amongst all employees and providing specialist training for those staff identified with special HS&E responsibilities
  • Maintaining and further developing the conviction that accident prevention is an essential element of good work practice
  • Encouraging both Group employees and partners' and sub-contractors' staff involvement in the improvement of safety performance and requiring them to act responsibly in preventing injury to themselves or others, loss or damage to property and damage to the marine environment
  • Establishing procedures designed to protect Group employees and partners' and sub-contractors' staff and ensuring that these procedures are followed
  • Ensuring that Group employees and partners' and sub-contractors' staff are suitably trained, qualified and experienced for the work that they are expected to carry out.
  • Recognising the importance of maintaining a healthy marine environment and ensuring that no harm to that environment arises as a result of our salvage operations.

Initiatives

HSE initiatives will focus on:

  • Reducing employee injury and illness rates
  • Optimising waste generation and preventing pollution
  • Reducing energy consumption
  • Procuring raw materials from sustainable sources
  • Improving the awareness and training of employees in HSE best practice

Responsibilities

Within the overall context of corporate social responsibility, the SubSea Board is committed to ensuring that HSE activities remain a key company performance indicator and that all companies and employees comply with HSE regulations.

The HSE Committee (Chairman: Sir Tim Mcclement) advises the Board on the appropriate HSE framework and Management System and monitors the integrity of the Company's HSE performance. The HSE Committee will regularly review HSE activities, including on continuous improvement. The Committee will report the outcome of its reviews to the Board.

The Operations Director is the Executive Director responsible for the Group's HSE performance.

It is the responsibility of all personnel who work for SubSea Resources to ensure that they manage HSE issues in accordance with this Policy and the Safety Management System at all times.

All SubSea wholly owned operating companies will ensure compliance with the applicable HSE legislation. Note: where possible, this will also apply to partly owned operating companies and joint venture and associated companies. In addition, wholly owned operating companies will develop and implement action plans with the objective of achieving continuous improvement in HSE performance, which will be systematically reviewed and monitored by management.