Our strategy for growth aims to deliver sustained value creation for shareholders.
The strength of our management team, and an experienced Board, provides the expertise to grow the business and the governance necessary to maintain the integrity of the Company and effectively manage risk.
Our oil production in the KRI is managed to ensure long-term value creation, with production maximised over the life of the field and investment made at a level appropriate to the external environment. During 2015 production averaged 84,900 bopd, a rise of 22%. Our world-class Miran and Bina Bawi fields contain an estimated 11 tcf of mean raw gas resources, and steps have been taken to move them towards development.
We are committed to realising the value in our portfolio through a focused drilling programme to explore, appraise and develop our assets, with the flexibility in our portfolio allowing us to manage expenditure appropriately.
Leverage the skills and knowledge of the management team to identify upstream assets with a view to adding reserves and/or resources which complement the existing KRI position.
We will continue to evaluate and evolve our capital structure to reflect the needs of the business, with a view to returning capital to investors when appropriate.