Q10-A Offshore Gas Field and Associated Licenses

Acquisition of a controlling 60% interest in the Q10-A offshore gas field and associated exploration and production licenses in the Dutch North Sea by Kistos plc. The Q10-A field has 2P reserves of 19.5 million barrels of oil equivalent and produced 5.47 mboe/d in 2020. The assets have a low carbon footprint, relying on solar and wind power, with carbon emissions significantly below the North Sea average. The acquisition includes interests in Q10-B, Q11-B, M10/M11 discoveries and other exploration projects, with contingent consideration payable on development milestones.