BUSINESS REVIEW: ENERGY ENERGY The Energy segment comprises the Group’s oil and gas activities in upstream exploration and production, together with downstream equipment supply and maintenance services. Operations are carried out mainly through Ping Petroleum Limited and its subsidiaries (“Ping”) and OGPC Sdn. Bhd. (“OGPC”), providing an integrated presence along the energy value chain. • Upstream Exploration and Production (Ping Petroleum Limited) The upstream operations in the UK North Sea are centred on the Anasuria Cluster, a group of mature producing fields. In Malaysia, the Group has progressively expanded its presence through the award of several production sharing contracts (“PSCs”) from PETRONAS, including the Abu, Beta, Meranti and A Cluster. These development assets are expected to offer improved production visibility and more favourable economics. They form part of the Group’s plan to rebalance the upstream portfolio towards higher-growth and more resilient assets. RM242.0 (RM6.4) REVENUE CORE LOSS BEFORE TAX* million million * exclude impairment 57 OPERATIONAL REVIEW SUSTAINABILITY STATEMENT GOVERNANCE FINANCIAL STATEMENTS SHAREHOLDERS’ INFORMATION INTELLIGENCE POWERING
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