Main structures on Albian Field oil/gas International Boundaries Isobaths Well with shows/dry TOGO GHANA Lomé Cotonou SÈMÈ FIELD AJE FIELD Lagos Cotonou 1 Block 2 Block 1 Block 3 Block 4 Block 5 Block 6 Lome 1 Lome 2 Haho 2 Keta 1 Hihon 1 1000 m 200 m 2000 m 2000 m Ouidah 1 Ike 1 Porto-Novo 1 Sota 1 DOC 1 6°20' 6°20' 6°20' 6°20' 6°20' 6°20' 6°20' 6°20' 6°20' 6°20' 1°30 2° 2°30' 1°30 2° 2°30' Sèmè N Sèmè S K-1 L-1 0 10 20 30km Fila1 BENIN NIGERIA Adje 1,2 • Signed contracts for a Mobile Offshore Production Unit (MOPU) - to be converted from a medium-sized drilling rig and equipped with a purposebuilt process package - and an Aframax tanker to be used as a Floating Storage and Offloading (FSO) unit for Akrake’s field development. • Embarked on a three-well work-programme in the Sèmè Field using the Borr Gerd jack-up drilling rig. • Faced significant operational and logistical challenges during the drilling programme. 2026 OPERATIONS UPDATE • Completed the production well • Achieved first oil 2025 OPERATIONS UPDATE • Issued an Independent Summary Qualified Person’s Report (QPR) for the Sèmè Field in Benin. • Issued an Independent Summary Qualified Person’s Report (QPR) in respect of the H7 and H8 Reservoirs in the Sèmè Field. mmbbls: millions of barrels ABOUT THE SÈMÈ FIELD The offshore Block 1 in Benin covers 551 sq km and is in shallow water depth of 20 to 30 metres. The block includes the Sèmè Field discovered by Union Oil in 1968. The Sèmè Field was first developed by Norwegian oil company, Saga Petroleum (Saga), and had produced approximately 22 mmbbls between 1982 and 1998, before production was stopped prematurely due to low oil prices of around US$14 per barrel in 1998. 36 Annual Report 2025
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