Following mediation at the UK National Contact Point (NCP) for the OECD Guidelines, oil exploration company SOCO International and conservation group WWF have reached a settlement. SOCO International has confirmed that once the Lake Edward seismic testing has been completed shortly they will not undertake the next stage of oil exploration unless agreement is allowed by UNESCO and the DRC government as being acceptable within the park. In exchange WWF agree to drop their claimagainst SOCO International at the Organization for Economic Cooperation and Development for breaching good business practice guidelines. The statement released by SOCO International states:
SOCO International plc (SOCO) has agreed with WWF in a joint statement to commit not to undertake or commission any exploratory or other drilling within Virunga National Park unless UNESCO and the DRC government agree that such activities are not incompatible with its World Heritage status. This was agreed jointly in mediation through the UK National Contact Point (NCP) for the OECD Guidelines. We will complete our existing operational programme including completing the seismic survey on Lake Edward which is due to conclude shortly. The Company confirms its previous statements that no Block V drilling commitment have ever been made.
Roger Cagle, Deputy CEO said, “SOCO is pleased that we were able to work together with WWF to hopefully find a way to jointly improve conditions in Virunga National Park and for its inhabitants.”
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