Exploration & Production - At a Glance 2023

Achievements and Challenges

JANUARY

Strategy

Angola: Divestment of Angola Block 14 B.V., which held a 20% interest in Block 14 and a 10% interest in Block 14K.

United Kingdom: Divestment of 20% stake in the Greater Laggan Area gas fields and the Shetland Gas Plant, as well as interests in several nearby exploration licenses.

FEBRUARY

Oil

Uganda and Tanzania: Launch of a project to develop the Lake Albert resources, representing plateau production of 230,000 barrels a day and a total investment of about $10 billion, in accordance with the exacting performance standards of the International Finance Corporation (IFC).

Exploration

Suriname: A significant new oil and associated gas discovery at the Krabdagu-1 well, located in the central area of the prolific Block 58.

Namibia: A significant discovery of light oil with associated gas on the Venus prospect, located in Block 2913B in the Orange Basin.

MARCH

Carbon Neutrality

Southeast Asia: $50 million investment in the Tropical Asia Forest Fund 2 (TAFF2) managed by New Forests, whose aim is to invest in certified plantations and native forest conservation projects in various countries across Southeast Asia, including Indonesia, Malaysia, Laos, Cambodia, Thailand and Vietnam.