Strong financial and operational performance.
30% growth
Jubilee 1H to 2H 2023 production
Cash-generative business.
$800m
Free cash flow1 over 2023-2025 at $80/bbl
Significant equity value accretion as debt is repaid.
<$1bn and 1x
Expected net debt1 and gearing1 by YE 2025
Optionality for investment, growth and returns.
Sustainable
Free cash flow1
Building a unique African platform.
Growth
From organic and inorganic opportunities
Attractive asset portfolio
Ghana
Significant opportunities for infill drilling, facilities expansion and new oil and gas production from currently undeveloped parts of the fields as well as near-field exploration.
Gabon and Côte d’Ivoire
Low-risk investment projects with potential for fast commercialisation, high returns and rapid payback.
Kenya
Opportunity to realise value from discovered resources.
1. The Group uses certain performance measures that are not specifically defined under IFRS or other generally accepted accounting principles. These alternative performance measures are explained on pages 189 and 190 of the Annual Report and Accounts 2023.