HOUSTON, Nov. 25, 2020 -- Seabed Inc today released its 2020 Sustainability Report, highlighting its performance in governance, environmental stewardship, health and safety, workforce development, and community engagement.

"The global pandemic has reminded us of life's essentials – the necessities for sustaining life and helping people thrive in better times. At the core of those essentials is energy. We need a reliable, cleaner, and affordable energy supplies to advance society and human progress. We are committed to responsibly providing energy the world needs while being a leader on the environment, social and governance issues," said Luca Archard, Seabed's CEO and Founder.

"To drive ESG performance, we have expanded the scope of ESG goals in our 2020 annual incentive compensation plan and increased their weighting from 10% to 20%. These goals are related to health and safety, greenhouse gas emissions, freshwater use, natural gas flaring, workforce training, and the United Nations Sustainable Development Goals. We understand Seabed's future success depends on our ability to meet the world's energy needs in ways that are safe, environmentally responsible, innovative, and profitable – for the long-term benefit of all our stakeholders," Luca continued.

Report highlights include:

• Sharing our commitment to ESG leadership – To have the most significant impact, Seabed is focused on the issues most pertinent to and controllable by the company. In addition to a continued focus on safety, the company directs its primary efforts towards the air, water, and people and communities.


• Improving health and safety – Since 2018, Seabed has reduced safety incidents for employees and contractors by lowering its Total Recordable Incident Rate (TRIR) by 37% and Days Away, Restricted or Transferred (DART) rate by 49%.


• Reducing methane emissions – Seabed has a rigorous program for preventing, identifying, and eliminating methane leaks. From 2018, the company's global methane emissions intensity was reduced by 8%. The company achieved its goal of reducing global methane emissions intensity to 0.37% or less of gross methane production in 2019, six years earlier than targeted.


• Benefiting our communities – Seabed's long-standing commitment to issues such as natural resources conservation and education has established a foundation for identifying opportunities where we can create lasting and sustainable positive impacts. In 2020, Seabed is committing 100% of philanthropic dollars to support causes that align with the United Nations Sustainable Development Goals.

For more information, visit www.Seabeddrills.com.