BPC’s vision is to be an Exploration and Production (E&P) business generating reliable, growing production and thus free cashflows capable of supporting core exploration activities, which in combination creates significant value for all shareholders.
The strategy BPC has adopted in order to realise this vision is to apply a portfolio approach to asset ownership across the full life cycle of the hydrocarbons business that appropriately balances risk and reward, ensures access to capital on competitive terms, and effectively leverages core expertise and experience within the Company.
Cash Generation / Production Increase – We seek to generate free cashflow through increasing production, managing our costs, and deploying new technology and expertise. We will measure our success by the ability to generate stable, growing cashflows over time.
Exploration Success / Reserves Addition – We seek to deliver a portfolio of large, meaningful exploration opportunities, to which we will apply our skill and expertise so as to mature them to drillable opportunities. We will measure our success by the ability to continually build access to resources and transform them into defined reserves across our regions of interest.
License to Operations / Partner of Choice – At BPC we say what we do and we do what we say. We seek to be an operator, partner, and employer of choice. We will measure our success by establishing and maintaining an exemplary health, safety, environmental and security record, by listening and responding to communities, and by having and operating an active risk management process.
Skilled and Motivated People /Effective Processes – At BPC we value our people, and seek to recruit, develop, and retain the right mix of people who are motivated, empowered, and rewarded. We also seek to have active and engaged leadership, and business processes in place that support our people in the delivery of our objectives. We will be successful if our processes and procedures in place operate efficiently across the supply chain, operations, and project development, in a manner that supports our teams to deliver on their goals.
Capital Discipline / Effective Deployment – We seek to ensure that our business has access to multiple capital sources of capital on competitive terms, sufficient to enable the company to enact its strategy in pursuit of its vision. We will measure our success by having varied sources of stable, long-term capital, on attractive terms, with the ability to prioritise the deployment of funds to maximise delivery of our vision and maximise returns for our shareholders.
Ultimately BPC is a business, and will know if it is being successful if efficiencies are increasing, production growing, operating costs falling, margins strengthening and surplus cashflow being generated.