While our focus is oil and natural gas, we also support great business ideas, investing in innovative companies and providing them with capital to develop their technologies. Some of these technologies have the potential to improve our exploration and production performance. Others offer us the opportunity to adopt early breakthrough emerging technologies.
Our investments in technology development are disciplined and include considerations around return, market size, timing for development and level of technology risk which is inherent in renewable energy projects. Our criteria for business investment include:
- Business Leveraged – Does the energy opportunity complement our existing process?
- Competency and Asset Leveraged – Will the renewable technology directly leverage our experience in energy development and markets?
- Ongoing Awareness – Does the project allow us to proactively identify new opportunities and to understand the economic drivers, strengths and weaknesses of available alternative technologies?
- Sustainable Solutions – Can the renewable energy technology be deployed in a sustainable manner for our stakeholders?