Our Strategy and Business Model
Our strategy is underpinned by creating value for shareholders through developing a balanced portfolio of assets and producing near-term cash flow.
Our vision is to become the leading independent East Mediterranean focused E&P company. This is achievable as:
- We are operating in areas where we are experienced and familiar with the geology, environment, regulatory landscape and commercial market.
- We have a management team that has vast experience across engineering, investment banking, finance and leading successful enterprises in the Eastern Mediterranean.
- We acquire, build and utilise our own infrastructure.
- We have a highly skilled workforce and experienced operational management team.
- We deploy the appropriate operating and capital expenditure to ensure we maintain and grow our low-cost production profile.
- We develop low-cost and easy-to-monetize reserves.
- We have a history of positioning ourselves successfully during low cycles by increasing our asset portfolio.
- We build strong relationships with local communities throughout the Eastern Mediterranean.
- We have a track record of partnering with world-class industry leaders throughout the upstream sector, including BP, TechnipFMC and Schlumberger
- We prioritise securing financing and the appropriate offtake partners in stable jurisdictions.
- We respond to and engage with our employees.
- We utilise financing and existing cash-flow to pursue sustainable production growth in defined markets.
- We have a track record of value creation for our existing shareholders through development of our assets and acquisitions.
- We have an unparalleled HSE record with a 35-year offshore production history in environmentally sensitive areas and traditional tourist destinations in the East Mediterranean.
- We benefit from solid financial backing from supportive shareholders and strong financial institutions, such as Prime Marine, Third Point, EBRD and Kerogen Capital.