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Our business model

Our business model

How we create value for our stakeholders, manage our risks and deliver our strategy.

We create value in two simple ways: we find oil and we sell oil. To achieve this we must execute exploration campaigns, deliver selective development projects, maintain our production and ensure we are suitably financed through a mix of diverse funding options and portfolio management. 

Our business model addresses the fundamental areas that we develop to manage our risks and help us deliver our strategy. These areas include: ensuring sustainable operations by protecting our people; high standards of governance coupled with strong and effective risk management; a multidisciplined, diverse and entrepreneurial team; and making a positive and lasting contribution to the communities and environment in which we operate.

Our business model & strategy

Discover & appraise

Eland has a world-class asset base in the Niger Delta with numerous near-term appraisal and exploration opportunities. Contingent and prospective resources will be converted into reserves to create shareholder value

1

Develop

Eland was established for the low-cost development of West African upstream assets, utilising the best local expertise and high technical competence

Gbetiokun
2

Produce

Increase value through low-cost operations and strongly optimised production

Opuama
3

Monetise

Generate strong, regular cash flow through accelerated production and a disciplined allocation of capital

Ubima

Acquire

Selectively acquiring developed and undeveloped upstream assets that match our expected internal returns criteria

Ubima
4

Value

Creating value through continuous investment in our assets, people and relationships

Annual Report

Country and stakeholder benefits

Working closely with government bodies, in-country expertise and local communities with a focus on CSR

Responsibility

Shareholder returns

Generating high-value returns for shareholders through the continued development and growth of our resource base, as well as through the Company’s capital allocation policy

Investors