RAPIDLY PROGRESSING GUYANA DEVELOPMENTS
EXECUTING COMPETITIVELY ADVANTAGED PROJECTS
Flexibility within portfolio to adjust to changing market conditions and pace of the energy transition.
CAPITAL AND EXPLORATION EXPENDITURES1
Billion USD
25
20
20
Short cycle
2022 Capex expected to be $21-24 billion
2023-2027 annual Capex of $20-25 billion
Advancing competitively advantaged investments to deliver
leading earnings and cash flow growth
-
- Improving mix of low cost-of-supply barrels
15
10
5
LO
0
2022
See Supplemental Information for footnotes.
2023
2025
2027
Pre-FID
Lower emission
Committed
-
Greater mix of high-value products
- >$15 billion in lower-emission investment in 2022-2027
Retaining flexibility to:
-
Capitalize on future opportunities
Respond to market conditions
Optimize portfolio development with pace of energy transition
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