North Sea

North Sea

Ninian Lyell Columba Banff Kyle Murchison Tiffany Toni Thelma

United Kingdom Section of the North Sea

In the United Kingdom part of the North Sea, our focus is on managing our infrastructure, platform maintenance and mature basin exploitation. This approach ultimately prolongs the life and economic value of our assets. Our resource potential is significant, making the North Sea a low-risk source of high-value, light crude oil. We maintain a large inventory of drilling locations to maximize our development projects and infill drilling. We operate the vast majority of our fields in the North Sea with a high average working interest giving us control of our assets.

Long term, our objective for the North Sea is to stabilize production and plan for modest growth. Mature field declines will be offset with development projects and infill drilling. We also expect there may be significant acquisition opportunities within the basin where we could capitalize on our mature basin expertise.