Strategic Objectives and Options

Strategic Objectives

• Minimum 10% reduction of carbon, methane and other gas emissions (10-10-10). Reduction is set for the validity term of the strategy (2021-2030) having 2020 as reference year;
• Annual natural gas production decline below 2.5%;
• EBITDA margin between 25-40%;
• ROACE equal to or higher than 12%.

Strategic options and secondary objectives 

• We continue to develop the portfolio of resources focused on mitigating climate changes effects, centred on resilient hydrocarbons and on operational safety and reliability:
  • Maximize the recovery factor of hydrocarbon reserves under safety, reliability and sustainable development conditions;
  • Increase of onshore and offshore (Black Sea) hydrocarbon resources and reserves portfolio;
• Electricity and energy with low CO2 emissions with large scale use of renewable energy sources, seeking opportunities on the hydrogen market and developing a portfolio of gas clients to complete such low CO2 emission energy:
  • Production of sustainable energy;
  • Minimum 10% reduction of carbon, methane and other gas emissions (10-10-10);
• Digital transformation of the company and supporting innovations to approach new customer interaction methods, to increase efficiency and to support new development directions;
  • Company digitalization;
  • Increase of market share and portfolio diversification;
• Create long-term relationships with equal profitability for both the market and social environment:
  • Training human resources to embrace future trends in the field of sustainable energy;
  • Citizens in a green society.