Delivering material long‐term returns for all stakeholders
|Large, strategic gas business currently supplying gas to over 10% of Nigeria’s available power generation capacity||100% exploration success rate with five discoveries from five wells drilled|
|Supportive, long-term oriented institutional and management shareholder base|
|Principal gas transportation and distribution network in South East Nigeria||Near term first production and cash flow from R3 East development expected within the next 18 months2||Focused on creating significant shared value and sustainable benefits for all stakeholders|
|Independently assessed average expected base case net asset free cash flows of approximately US$130 million p.a. (2020-20231)||Large acreage position with 146 exploration targets identified for future drilling consideration||Strong culture of governance and delivery|
|Existing infrastructure provides strong operational gearing for new long-term GSAs, given significant spare capacity and close proximity to|
undeveloped gas reserves
|Planned 2,000km cross-border pipeline network funded by China National Petroleum Corporation and due for completion in 2022, increases potential export market||Strongly positioned to deliver further organic and inorganic high-value energy projects|
1 Average 2020-2023 expected net asset-level free cash flow generation, on a maintenance adjusted take-or-pay basis as assessed by the Company’s Competent Person, CGG Services (UK) Ltd.
2 Market and financial conditions permitting.