Key Facts

• a FTSE250 global independent oil and gas company
• holds a leading position in the UK as well as interests in Indonesia, Vietnam, Mexico and Norway
• c.1,700 employees worldwide
• global production >200 kboepd
• balance between oil and gas
• low-cost operator (c.$13.7/boe operating cost 2022)
• high margin barrels

Safety is our top priority:

• no significant injuries or spills in 2022
• improved safety performance
• Summer shutdowns completed safely and on schedule
• special focus on process safety and high potential incidents

We delivered c.15% of the UK's domestic oil and gas production in 2022, supporting energy security at a critical time:

• production of 208 kboepd, over 90% from the UK
• 50% liquids versus 50% gas, with significant UK exposure
• significant asset diversification with robust margins
• high return, lower risk infrastructure-led investment opportunities to maintain near-term production levels
• a diversified UK portfolio with a balance of oil vs gas

• strong balance sheet
• low cost of debt with no near-term debt maturities
• financial flexibility to fund further growth and shareholder returns
• strong operating leverage to commodity prices

• ability to pursue a fully funded growth strategy
• broad range of organic growth projects
• a track record of value creation through mergers and acquisitions
• a growing set of international opportunities
• ability to high grade opportunities drives higher returns
• our intention is to establish a material production base in at last one region outside the UK

Taking action to achieve our Net Zero goal by 2035:

• scope 1 and 2 emissions intensity materially improved in 2022
• progressing a wide range of activities to reduce emissions further
• on track to meet UK government's sector emission reduction targets (first goal is 10% reduction by 2025 versus 2018)
• investing in technology, including carbon capture and storage (CCS), to support the UK's emissions targets