Our business in the Netherlands consists of a balanced portfolio of exploration, production and development projects.
We’ve been active in the Dutch sector of the North Sea since 1964. In 2010 our acquisition of Petro-Canada Netherlands B.V. bolstered our Central North Sea portfolio, giving us operating capability in the Netherlands and bringing an experienced management and technical team on board.
We operate nine offshore production and exploration licenses including the De Ruyter, Hanze, Van Ghent and Van Nes fields. In addition, we have interests in 24 non-operated production and exploration licenses, both offshore and onshore. Our average annual production in 2012 was 10,700 barrels of oil equivalent per day.
In 2012 we drilled one non-operated exploration well and plan to drill four in 2013.
Our strategy is to deliver 20% annual production growth by continuing to invest in exploration and development opportunities, while maintaining a strong safety culture and providing a challenging and enjoyable work environment.