International Women’s Day: 'Invest in women: Accelerate progress”

International Women’s Day: 'Invest in women: Accelerate progress”

Every year, the UN announces a theme for the UN’s International Women’s Day. In 2024, it is “Invest in women: Accelerate progress”.

At Energean, we agree entirely and are proud to say that we have been “investing in women” and doing our best to “accelerate progress” for many years.

Energean has significant female representation at every level of the company, from Board to graduate entry, and has always made it a point of principle that – in a traditionally male dominated industry, Energean would be a standard bearer for female talent and development.

As we state in our DEI policy, we consider diversity, equity & inclusion to be business critical, not a compliance necessity. A diverse workforce strengthens our culture and our ability to deliver our business objectives.

We would not publish these beliefs if we could not back it up. We are proud that we can demonstrate a range of data points prove that at Energean, there is a truly level playing field as regards career development and remuneration – unlike many of our peers. For instance:

women in energean graph .jpg
  • A Board that has 33% female representation, including the Chair
  • 29 % of Energean Senior Management (ExCo & Senior Management Level) are female
  • The Median Energean female employee for 2023 was paid 6% better than the median male employee – which should be seen against a broader context:
    • UK energy firms pay men approx 20.2% more than women on average[1]
    • In EU countries for 2022 the gender pay gap was 12.1%. Male employees are paid 12.1% better than females across EU[2].

[1] https://www.energyvoice.com/oilandgas/435685/uk-energy-companies-pay-men-20-2-more-than-women-in-2022/#:~:text=The%20oil%20operators,every%20pound%20a%20male%20worker

[2] https://data.oecd.org/earnwage/gender-wage-gap.htm

  • 23% of Energean Women are paid in the upper pay quartile. There is an insignificant variance between any rank level – demonstrating that unlike in many industries, there is no drop off in female representation in senior management.
  • Out of the 21 promotions and internal moves that were offered to our people 36% of that were given to our female colleagues.

We aspire to being the employer of choice in the independent oil & gas industry. This means maintaining a supportive and flexible working environment that will enable all of our colleagues to achieve their potential.

We have chosen a number of relevant CSR projects to recognize the importance of gender equality & DEI, such as providing clothes and household goods to a local women’s refuge, supporting organisations that provide support for Israeli families with missing hostages, and sponsoring local women’s sports clubs.

Whilst  International Women’s Day is a single day in the calendar, it should be entirely clear we have a year round commitment to DEI principles.