Opportunities Opportunities Description Management’s Response Resource Efficiency Increase in energy efficiency and efficient water management in our production • The Group can improve energy and water efficiency to better manage resource consumption • Continuous monitoring, treatment, and separation of water, along with the assessment of its quality, are conducted by MOL before the discharge or reuse of seawater onboard. These actions are based on environmental conditions to ensure compliance with local and international regulatory requirements. • This can potentially reduce operating costs and increase our competitiveness. Financial impact: Cost reduction on energy consumption Impact area: Oil & Gas segment, Non-Oil & Gas segment, Corporate segment Likelihood and Time period: • Likely • Medium, Long By judiciously selecting drilling campaigns and projects that prioritise rigs with lower carbon emissions and actively sourcing suppliers and equipment with similar environmental credentials, the Group demonstrates its commitment to minimising its carbon footprint. Resilience Leverage on the use of technology to develop RVD to reduce energy usage Financial impact: Reduction in cost of oil exploration Impact area: Non-Oil & Gas segment Likelihood and Time period: • Likely • Short, Medium For exploration and development appraisal projects, Rex continues to use its RVD technology to derisk assets / potential assets. RVD helps to locate the presence of oil in the ground, hence increasing the chances of finding oil and saving resources and millions of dollars in futile capital expenditure drilling dry wells. Innovation Norway and the EEA offer Green Tech Grants to support eligible green tech innovation projects for Norwegian enterprises, provided they follow international corporate responsibility principles. LPA would also attempt to explore opportunities to align its projects more closely with the eligibility criteria of relevant grant programmes. By adjusting our projects to meet these requirements, the company may increase the likelihood of securing additional funding for future green technology and innovation efforts. Markets Participate in carbon capture and utilisation storage solutions Financial impact: Increase in an alternative source of revenue for third parties who wish to store carbon at Rex’s Norwegian CCS licence. Impact area: Non-Oil & Gas segment Likelihood and Time period: • Possible • Medium LPA holds a 30% interest in the EXL009 Iroko CCS licence in Norway. Rex International Holding Limited 79
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