- Avenir = “future” with higher returns, lower footprint and new energy play 
- Offshore Lean Operations: Rapid cost out, Lean and redevelopment 
- Rapid Technology for new fields: FLNG, Mini FLNG, MOPU, GTL 
- Developments - Half time / half cost to the sweet spot of fields 
- Digital operations and management: Existing and new platforms for speed, efficiency and access 
- Management Excellence and Partnerships 
- Hydrogen to transport, Decarbonisation of operations

OUR END GAME – THE FUND

Selective investment in upstream assets to deliver returns of >30%
Uses AEC proprietary 4-step screening criteria to select assets where AEC and partners deliver fastest and highest value
Leverages AEC, partner dept hand breadth in operations, CAPEX, Commercial and markets to accelerate/maximize value
Creates investment demand from partners and investors through new value, operating models, capabilities

NOW IS THE TIME.

New norm of lower prices
~$50/bbl
-Gas 8-10$/mmbtu
Changing energy,technology mix
- Oil Demand peak
- Gas supply gap in 2022 (likely larger/faster)
- Electrification, integration
- Analytics, digital
Changing investor expectations
- Fast capital
- Margin over value
- Lack of trust in Upstream
Large Resources,
Smaller discoveries
- APAC: Discovered 2.5Bnboe, To be Found > 2Bnboe
- Sizes 500 mmboe to 50-200 mmboe
Developers and
Servco’s struggle
- Poor returns from existing Upstream
- Budget overruns
- Servco capacity, balance sheet, low asset utilization