Our approach to risk management

Risk management is an integral part of the Group’s business activities and our ability to identify, assess, monitor and manage our business risks is fundamental to Savannah’s ability to deliver long-term performance.

Risk management framework

Savannah’s risk management framework is made up of six components which combine to create an effective system of risk management and internal control.





Whilst the Board is ultimately responsible for the management of risk, the Group is structured in such a way that risk management is conducted at all levels of the Group and is embedded in our business practices:

The Board

The Board sets the risk appetite for the Group, establishes and monitors the risk management strategy and is responsible for maintaining a robust and effective internal control system.

The Executive team

The Executive Team runs the business in line with the risk management strategy established by the Board and is responsible for the day-to-day application of this strategy.

Managers and staff

Managers and staff are responsible for identifying and assessing risks relevant to their functions, roles or activities and for managing and reporting those risks in line with the Group’s policies and procedures.

Risk registers are maintained at the business and functional levels and are consolidated into the corporate risk register. These risks are assessed, after taking into account mitigation plans and actions, on two levels: the likelihood of the risk arising and the potential impact of such risk.

Principal risks

Set out below are the risks which the Directors consider particularly relevant to the Group’s business activities at the date of this report and the mitigating actions that are being taken to manage these risks. This section is not intended to be an exhaustive list of all the risks that may arise, nor is the order of the content intended to be any indication of priority. In a changing business environment, other risks are assessed as part of the Group’s risk management framework and are mitigated as they arise.


Trending of principal risk factors

Risk movement legend

arrow-UP.svg Increased arrow-R.svg Stable arrow-D.svg Reduced


Strategic Risk Factors Trend
 1. Country arrow-UP.svg
2. Acquisitions arrow-R.svg
3. Reserves and Resources arrow-R.svg
4. Exploration and appraisal arrow-R.svg
Operational Risk Factors Trend
5. Capital projects arrow-R.svg
6. Industrial action arrow-R.svg
7. Supply interruption arrow-R.svg
Financial Risk Factors Trend
8. Foreign exchange arrow-UP.svg
9. Gas sales agreements arrow-R.svg
10. Liquidity arrow-R.svg
Sustainability Risk Factors Trend
11. Ethical conduct arrow-R.svg
12. HSE&S and our social “licence to operate" arrow-R.svg
13. Cyber security and data protection arrow-R.svg
14. ESG and climate change arrow-R.svg
15. Organisation arrow-R.svg