PROUD OF OUR
PERFORMANCE
CEO STATEMENT

IT'S WHAT'S BENEATH THE SURFACE THAT COUNTS

2019 was an important year for our business – our second in operation, with a strong performance that showed just what Spirit Energy is capable of.

CEO Statement

Key Figures

0.18
Total recordable injury frequency
0.7
Process Safety Incident Rate
45.8m
barrels of oil equivalent (mmboe) in 2019
£12.20boe
Lifting cost per barrel

FINANCIAL
KPIS

Adjusted operating profit
£207m
Adjusted profit after tax
£37m
Adjusted operating cash flow
£548m
Lifting cost per barrel
£12.20/boe
CASE STUDY

ODA: SETTING A NEW STANDARD FOR COLLABORATION

When Spirit Energy submitted its Plan for Development and Operation (PDO) of the Oda field, production was scheduled to start on 1 August 2019. Five months earlier than planned – on 16 March 2019 – and with development costs reduced by around 15%, Spirit Energy achieved first oil from the field.

CEO statement