Strong financial and operational performance.

30% growth

Jubilee 1H to 2H 2023 production

Cash-generative business.


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.


Free cash flow1

Building a unique African platform.


From organic and inorganic opportunities

Attractive asset portfolio 


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.


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.