Our Business Model

We updated our Business Model and sum it up with three simple words and a clear idea:

“We improve assets.”

Underpinning the Model is our track record of adapting to change, expanding our capabilities and continuously improving our asset portfolio. The Model has three interconnected components:

• We deliver more energy by focusing on finding, producing and taking it to market efficiently. This reflects our strong focus on results, for which we need the right people, the right assets, and the right execution.
• We invest with the aim of returning value to all our stakeholders. Our capital allocation is disciplined, focusing on the highest-value projects and assuming and managing risks responsibly.
• We create and share prosperity with everyone, from our employees to the governments and communities surrounding our operation. “Creating Value and Giving Back” is one of our core principles, and sharing prosperity with people while caring for the environment is our priority, meeting the highest standards of ethics and corporate governance.