A d v a n c e t h e d e v e l o p m e n t o f P N G G r o w t h e B u s i n es s O p t i m i s e t h e B u s i n e s s Vision To generate top quartile returns for shareholders through excellence in socially responsible oil and gas exploration and production Maximise influence in PNG by being the leading corporate citizen and promoting a stable operating environment Enhance organisational capability to deliver the strategy Facilitate optimal commercial integration of LNG expansion Develop options for material growth Explore and appraise high value oil and gas accumulations Optimise oil and gas assets through safe, reliable and sustainable operations Optimise capital and liquidity management to support investment and reward shareholders 2017-2020 Strategic Objectives
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Advance the development of PNGGrow the Business
Optimise the Business
VisionTo generate top quartile returns
for shareholders through excellence in socially
responsible oil and gas exploration and production
Maximise influence in PNG by being the leading corporate
citizen and promoting a stable
operating environment
Enhance organisational
capability to deliver the
strategy
Facilitate optimal commercial
integration of LNG expansion
Develop options for material
growth
Explore and appraise high
value oil and gas accumulations
Optimise oil and gas assets through safe, reliable and
sustainable operations
Optimise capital and liquidity management to support investment
and reward shareholders
2017-2020Strategic Objectives
01Ensure safe, reliable and sustainable operations
02Maintain the operations and value that come from PNG LNG
03Deliver opportunities to mitigate production decline and maximise reserves
04Deliver Life of Asset Plans and Projects
05Develop and implement longer-term operating philosophy
06Appraise and monetise operated undeveloped gas fields
07Optimise drilling and supply chain performance
STRATEGIC OBJECTIVE AND SUPPORTING INITIATIVES
1. Optimise oil and gas assets
Optimise oil and gas assets through safe,
reliable and sustainable operations
Vision
Advance the development of PN
G
Grow the Business
Optimise the Business
01Facilitate early and continued alignment between joint venture partners
02Align Government on optimal integrated development
03Provide bespoke solutions to Gas Agreement issues
04Secure license tenure
05Play leading role in strategic landowner engagement
06Invest in near-field drilling with clear commercialisation options
STRATEGIC OBJECTIVE AND SUPPORTING INITIATIVES
2. Optimise commercial integration of LNG expansion
Facilitate optimal commercial integration
of LNG expansion
Vision
Ad
vance th
ed
evelopm
ent of PNG
Grow
the Business
Optimise the Business
Vision
01Secure outstanding farm-ins and license awards
02Mature portfolio to drillable status to underpin reserve replacement
03Prioritise activities to align with available funding
04Deliver exploration programme focused on frontier regions that can add material value
05Pursue expanded operatorship opportunities
STRATEGIC OBJECTIVE AND SUPPORTING INITIATIVES
3. Explore and appraise high value accumulationsGrow the Business
Explore and appraise high value oil and gas
accumulations
Advance the development of P
NG
Grow the Business
Vision
01Ensure PNG LNG benefits are distributed
02Align key PNG in-country stakeholders to support growth projects, power initiatives and outstanding license awards
03Lead/support strategic landowner engagement
04Proactively support and protect value of operating oil and gas assets
05Implement the Social Responsibility Strategy
STRATEGIC OBJECTIVE AND SUPPORTING INITIATIVES
4. Promote a stable operating environment in PNGAdvance the development of PNG
Grow the Business
Optimise the Business
Maximise influence in PNG by being the leading corporate
citizen and promoting a stable operating
environment
Vision
01Progress high potential new venture opportunities
02Establish 1-2 focused studies with strategic partners
STRATEGIC OBJECTIVE AND SUPPORTING INITIATIVES
5. Develop options for material growthG
row
the B
usiness
Develop options for material growth
Vision
01Optimise balance sheet and cash flows to ensure funding for required activities
02Deliver financing plan to support LNG expansion
03Implement the most value accretive capital return mechanisms
STRATEGIC OBJECTIVE AND SUPPORTING INITIATIVES
6. Optimise capital and liquidity management
Gro
w th
e Busin
ess
Op
timis
e the B
usiness
Optimise capital and liquidity management to support investment
and reward shareholders
Vision
01Align the organisation
02Develop capability and support employee development
03Build high performance teams that are diverse, innovative and technology enabled
STRATEGIC OBJECTIVE AND SUPPORTING INITIATIVES
7. Enhance organisation capability to deliver
Advance the development of PNG
Grow the Business
Optimise the Business
Enhance organisational
capability to deliver the strategy
Vision
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