Our goal is to become the leading independent exploration and production company within five years. To achieve this, we will build long-term shareholder value through sustainable growth.
We promote a performance culture which incentivises asset efficiency, rewards value creation and supports industry-leading HSE standards.
At our operated assets, we focus on well productivity, reliability and good reservoir management. Where partners are operators, we work with them to identify opportunities for targeted interventions. Globally, we simplify structures, standardise systems, invest in new technology, and manage costs and capital allocation to achieve efficiency gains.
We maintain a strong balance sheet and healthy liquidity to maximise freedom of action. We also hedge most production revenues two to three years in advance. This adds certainty and makes it easier to act strategically.
For organic growth, we target near-field opportunities with relatively short development periods. Our M&A programme aims to build synergies and consolidate our existing hubs in Norway, the UK continental shelf, Asia Pacific and North Africa. Our preference is for operated acquisitions and, longer term, an increased emphasis on gas. We may also divest or farm-down certain assets to raise the overall quality of our portfolio.