Company Strategy

As the Company is aware of the importance of its impact on the economy, the environment, and society, one of the Company’s key priorities remains the incorporation of sustainable development principles into key business processes. The Company’s growth over the next ten years will be ensured by expanding its resource base, improving the efficiency of current production, lengthening the value chain, introducing modern technologies, and lowering its carbon footprint.

To create a greener and more efficient mobility system, we must transition to alternative and sustainable feedstocks. Biofuel consumption in Europe is expected to roughly triple by the end of this decade due to strict regulations and consumer behavior. Chemical and material demand will continue to rise as the world’s population, prosperity, and standard of living rise. Many of the electronics we use on a daily basis, such as computers and cellphones, are made of high-performance plastics.

They make our automobiles and airplanes lighter and more fuel-efficient, and they save lives by incorporating safety features such as airbags, helmets, and medical equipment. Lightweight solutions are essential not only for modern healthy living, but also for building a low-carbon economy, due to characteristics such as strength, flexibility, and, most importantly, low production costs. However, we must change the way we dispose of plastic. Plastics must be viewed as a solution component rather than a problem.

The strategy takes into account changes in the Duran Petroleum asset portfolio, such as the expansion of the petrochemical sector and the separation of Duran Petroleum into a separate national corporation, as well as the global trend of clean energy transition and carbon management. The Company recognizes the importance of its impact on the economy, ecology, and society, and it will continue to incorporate sustainable development principles into key business processes to ensure that economic, environmental, and social priorities, as well as corporate governance objectives, are consistent. The Company’s growth will be ensured over the next ten years by expanding its resource base, increasing the efficiency of current production, developing new processing, introducing modern technologies, and reducing its carbon footprint.

To achieve our goal of becoming a net-zero company, we will gradually reduce our oil and gas production by 20% by 2050, and then stop producing oil and gas for energy use entirely by 2050. We will continue to invest in traditional exploration and production until 2030, when we will significantly reduce our commitment. Gas will account for more than 60% of total energy consumption, emphasizing its role as a transition energy that enables the use of renewables. E&P will invest in geothermal energy and carbon capture and storage (CCS) at the same time in order to contribute to a more sustainable society by leveraging existing assets and skills.

We aim to become a leading global force in upstream oil and gas by maximizing strategic value from oil, realizing the potential of gas, increasing reserves for a sustainable future, being a top employer, realizing value from technology, reaffirming our commitment to HSSE, aiming for excellence in performance, and making contributions to the enterprise and state. Our goal is to build a comprehensive business in which both partners share the risks and rewards associated with a shared vision.

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