2022 performance
- A Lost Time Injury Rate (“LTIR”) of 0.34 (2021: zero) and a Total Recordable Incident Rate (“TRIR”) of 0.68 per 200,000 working hours (2021: 0.34 per 200,000 working hours).
- Total Contributions(d) to host country stakeholders (governments, employees and suppliers) of US$56.9 million (2021:US$55.1 million).
- Continued the roll-out across our whole business of the multimillion dollar, world class training scheme established in 2021, resulting in a 74% increase in training hours per employee from 26.5 hours per employee in 2021 to 46 hours per employee in 2022 and a 109% increase in total working hours of training.
- Published our maiden ESG disclosure reports post-year end.
2023 KPIs
- Operate safely and in an environmentally appropriate manner.
- Maintain social licence to operate.
- Maintain investment in the training and development of our people to support our medium and long-term growth plans.
- Publish disclosure reports for our chosen ESG standards.
d Total contributions to Nigeria and Niger defined as payments to governments, employee salaries and payments to local suppliers and contractors. Where total contributions refer to the period 2014–2021 they include contributions to Nigeria during the period pre-acquisition of the Nigerian assets by Savannah.
2022 performance
- Front-end engineering design of the new compression system project completed and the project remains on track for completion in 2024.
- Gas production successfully increased by 23% year-on-year in order to enable operationalisation of new gas sales agreements.
2023 KPIs
- Progress the compression project in Nigeria for completion in 2024.
- Maintain gas production capacity in Nigeria at required levels.
2022 performance
- Signed agreements in 2022 to progress up to 750 MW of renewable energy projects1.
- Signed four new agreements in 2022 with the Central Horizon Gas Company Limited, TransAfam Power Limited, Notore Chemical Industries PLC and Shell Petroleum Development Company of Nigeria Limited as well as a contract extension with First Independent Power Limited.
- Decision taken to reconfigure the R3 East development project to enable export sales, given the progress made on the construction of the Niger-Benin pipeline. Therefore, first commercial oil now an anticipated in 2024 as opposed to 2023.
2023 KPIs
- Reach up to 1 GW+ of renewable energy projects in motion.
- Commence the R3 East well testing programme.
2022 performance
- 22 new business opportunities reviewed in nine countries.
- Share Purchase Agreement (“SPA”) signed with PETRONAS International Corporation Limited (“PETRONAS”) relating to the purchase of PETRONAS’ entire oil and gas business in South Sudan.
- Completion of Chad and Cameroon acquisition in December 20223.
2023 KPIs
- Deliver at least one significant M&A opportunity.
- Completion of the acquisition of the South Sudan Assets(m)
2022 performance
- Strong operational and financial performance in 2022, significantly ahead of the financial guidance set for the year:
- Significant progress made on the refinancing of the Company’s existing approximately US$370.6 million Accugas Term Facility.
- No dividend being declared for FY 2022 and dividend strategy currently under review.
2022 KPIs
- N/A
Our strategy will be updated in 2023 to reflect the inclusion of the Cameroon assets