Three Horizons Framework

Optimize existing crude petroleum assets for maximum efficiency, lowest operational cost, and minimal carbon footprint to ensure 'last barrel' competitiveness and sustain cash flow for future investments amidst declining investor confidence and market obsolescence risk.

• Implement advanced Enhanced Oil Recovery (EOR) techniques, such as CO2-EOR, to increase recovery factors from mature fields while simultaneously utilizing captured CO2.
• Deploy digital twin technology and AI-driven predictive maintenance across drilling and production operations to reduce downtime and optimize asset utilization (e.g., specific to offshore platforms or complex reservoirs).
• Launch a 'Zero Methane Venting & Flaring' program focusing on infrastructure upgrades (e.g., vapor recovery units, leak detection and repair) to significantly reduce Scope 1 emissions from existing operations.
• Execute targeted divestment of high-cost, high-carbon-intensity, or geopolitically sensitive crude assets to improve portfolio resilience and reduce stranded asset risk.
• Negotiate long-term, low-emissions shipping and logistics contracts for crude transport to reduce Scope 3 emissions associated with immediate market delivery.

Leverage core competencies in large-scale project management, engineering, and subsurface expertise to establish material revenue streams in adjacent low-carbon energy solutions, de-risking the transition and attracting new capital.

• Develop and commercialize large-scale Carbon Capture, Utilization, and Storage (CCUS) projects, particularly for industrial emitters, leveraging existing geological storage expertise from crude reservoirs.
• Invest in and develop 'blue' hydrogen production facilities, utilizing natural gas with integrated CCUS, specifically targeting industrial clusters or transportation hubs.
• Establish geothermal energy project development units, applying deep drilling and reservoir engineering skills to exploit high-enthalpy resources for power generation or direct heat.
• Form strategic partnerships for the production of Sustainable Aviation Fuels (SAF) from non-petroleum feedstocks, leveraging existing refining infrastructure or supply chain expertise.
• Acquire and integrate specialized engineering firms or technology providers focused on offshore wind farm development or advanced energy infrastructure projects.

Invest in disruptive technologies and business models beyond traditional hydrocarbons, building long-term resilience and positioning the company as a leader in future energy systems, often through venture capital and strategic partnerships.

• Establish a dedicated corporate venture capital fund (e.g., $500M) focused on early-stage investments in advanced energy storage (e.g., solid-state batteries, flow batteries) and direct air capture (DAC) technologies.
• Fund and pilot projects for novel renewable energy forms such as advanced fusion research, orbital solar power, or next-generation small modular reactors (SMRs) through university partnerships and research consortia.
• Develop capabilities in critical mineral extraction and processing, particularly those vital for renewable energy technologies (e.g., lithium, cobalt, rare earths), leveraging existing mining and geological expertise.
• Explore and invest in digital platforms for carbon credit trading, energy system optimization, or smart grid management, leveraging data analytics and IT infrastructure capabilities.
• Create strategic alliances with leading material science companies to research and develop new low-carbon materials or carbon-neutral industrial processes for hard-to-abate sectors.