Exploration, Development and Production

AVILAH has a proven track record of creating transformational growth and delivering significant value through exploration and development. Both are important parts of a well-balanced oil and gas portfolio.

AVILAH’S success stems from being pioneers and partners. We focus on identifying assets that are capable of providing significant and sustainable growth, capturing as high an equity position as possible in frontier areas, using our strong technical and commercial expertise and working with our partners to take our assets from discovery to development safely.

AVILAH’S quick decision making, agility and the ability to form strong and lasting relationships has benefitted not only the business but all stakeholders.

Across the portfolio AVILAH seeks to acquire significant acreage positions, at appropriate equity levels, in areas we believe have high technical and commercial potential and where, in the case of initial success, we have the financial capability to leverage our knowledge and create value.

Exploration

Avilah’s focus is on exploration-led growth. As explorers, we make discoveries and aim to open up new basins, working ahead of our peers.

Avilah’s success stems from being pioneers and partners. We focus on identifying assets that are capable of providing significant and sustainable growth, capturing as high an equity position as possible in frontier areas, using our strong technical and commercial expertise and working with our partners to take our assets from discovery to development safely.

We create transformational growth from this focused exploration, as part of a well-balanced and sustainable portfolio approach including development and production which provides the free cash flow to fund exploration activity.

Avilah’s exploration philosophy

We look beyond the surface – we are focused experienced explorers with extensive technical and industry knowledge.

Exploration activities are intended to provide more information – our job is to then decide what that information might mean.

We have self belief and passion. We are not afraid of a challenge – what is important is not being afraid to try to continually learn.

Development

We have a proven track record of creating and delivering value through production.

Producing assets are an important part of a well-balanced oil and gas exploration and development portfolio. We realise value in development assets by choosing to sell an interest and return cash to shareholders or by choosing to develop an asset, either ourselves or with a partner.

We work with our partners to take our assets from discovery to development safely. Avilah’s quick decision making, agility, emphasis on safety and the ability to form strong and lasting relationships has benefitted not only the business but all stakeholders.

Avilah’s development assets are currently focused in the UK and Norway. Kraken and Catcher, two of the largest ongoing projects in the UK North Sea, are the Group’s core development projects. They are both under development and will provide free cash flow from 2017 with peak net production to Avilah of ~25,000 boepd. At the peak of production in 2017/2018 it is anticipated that Kraken and Catcher combined could account for around 7% of UK total daily boe production1.