Through active engagement with local stakeholders, Parex strives to build long-term, positive relationships that ensure everyone benefits from local resource development.
Through voluntary social investments and investments related to contractual commitments with Colombia’s National Hydrocarbons Agency, we are committed to enhancing the life of communities through sustainable development.Read more about our social priorities and commitments in our Social Responsibility Policy
Over the last 5 years, through the Agua Para Todos (“Water for All”) Program, Parex has invested in infrastructure to improve access to safe drinking water. This work has helped create needed infrastructure and resulted in over 33,000 people in communities near our operations gaining access to safe, reliable drinking water.
Under the Colombian Government’s Works for Taxes Program and in coordination with local and national authorities, Parex continues to invest in education and infrastructure projects. Since 2017, Parex has invested more than US $14MM in the program, which has benefited over 68,000 community members. In addition, in 2022, Parex was awarded five additional projects as part of the program, representing approximately $23MM in investments.
In October 2019, to honor Parex’s ten-year anniversary and demonstrate our dedication to promoting innovation & creativity the energy sector, we launched the Parex Innovation Fellowship in partnership with the University of Calgary. These fellowships, supported by a $3.24 million endowment from Parex along with our Chairman and former U of C alumnus Wayne Foo, are intended to help researchers focus on innovation and technology-transfer activities. The fellowships provide researchers and students resources to focus on solving some of the world’s most complex challenges in areas including data science and analytics, cybersecurity, and energy sources.