Business Strategy

16.4

bln boe

of proved hydrocarbon reserves (SEC)

№3

globally among publicly traded companies by proved natural gas reserves under SEC

80

bcm of natural gas produced in 2021

10%

of total Azerbaijan natural gas production

Business Strategy

By expanding our oil-rich resource base, we can increase production and reserves. In an effort to maximize its value and resource potential, we intend to vigorously drill and develop our existing land base. We will try to boost production, reserves, and cash flow while producing attractive returns on capital invested by converting our undeveloped reserves to developed reserves.

Concentrate on boosting well density and horizontal drilling to increase hydrocarbon recovery. We think there are chances to use horizontal wells to target different intervals in the Gunashli Oilfield play. To further seize any upside potential that might be there on our sites, we have a drilling program that is horizontal in nature. In addition, we think that compared to just drilling vertical wells, our recoveries per section might be greatly increased by our horizontal drilling program. Benefit from our Experience engaging in oil and gas industry activity. Our executive team, which has significant experience in the oil and gas industry and an average of about 24 years of industry experience per person, intends to keep looking for ways to improve our drilling and completion methods in order to maximize hydrocarbon recovery.

Improve Returns through converting resources, allocating capital, and continuously improving operational and cost effectiveness as part of our Low Cost Development Strategy. Our asset base, which is rich in liquids and oil, offers appealing returns given the current state of the commodity market. Make an effort to acquire strategic assets with exceptional resource potential. We have a track record of purchasing leasehold assets in the Gunashli Oilfield that have a significant oil-weighted resource potential and can generate enticing returns on investments.

Our executive team has what we believe to be a competitive advantage in identifying acquisition targets and a demonstrated capacity to assess resource potential due to its extensive experience in the oil and gas industry. We want to keep looking for acquisitions that will help us reach our strategic and financial goals. Keep your financial options open. We aim to keep a prudent financial position.

Core Values

A distinct set of fundamental principles that are upheld throughout the whole business serve as the foundation for Gunashli Oilfield and the culture we have created. We have set a very high standard for all of our employees in terms of how they behave and work together, both in the office and on the job, by defining core principles.

Leadership

Gunashli Oilfield is dedicated to assuming and upholding a leadership role both within our business community and within our organization. Internally, effective delegation, making wise decisions, and setting the correct vision are the first steps in establishing leadership. In terms of how we carry out our plan, run our business, and provide outstanding outcomes to our shareholders, we want to be seen outside of our company as leaders in our sector.

Integrity

When our words and deeds consistently reflect our vision and strategy, Gunashli Oilfield may say that we are acting with integrity. We are well aware that integrity takes effort to uphold over time. Integrity is difficult to quantify, but when it is present, it is clear in all of our business interactions with our partners and shareholders.

Excellence

In everything we do, Gunashli Oilfield aspires to perfection. We hold ourselves to a high standard. When actions go above and beyond what is expected, excellence is achieved. We honor and acknowledge individual achievements, placing special attention on those that have contributed to the development of our organizations.

People

Gunashli Oilfield is aware that the success of our personnel is essential to both our current and future success. People are pushed to realize their greatest potential in an atmosphere of respect, trust, and confidence between all parties.

Teamwor

Our dedication to working together is essential to our success. In order to accomplish a common purpose both within our organization and through productive interactions with our business partners, teamwork is the embodiment of many ideas, personalities, and abilities.