North Sea — oil & natural gas project

[lifecycle_phase was: closure] Offshore crude oil and natural gas operations in the UK North Sea, operated through CNR International (UK) Limited (Aberdeen). Includes the Ninian Hub (Central and South platforms - decommissioning in progress with Ninian South Decommissioning Program submitted Dec 2025) and T-Block fields (Tiffany, Toni, Thelma). Following a competitive tender for Ninian South, abandonment costs were revised upward; T-Block determined no longer economically viable in 2025, cessation of production accelerated to Q1-2027 and associated crude oil reserves de-booked. C$1,777M pre-tax recoverability charge in 2025 (incl Offshore Africa). North Sea proved reserves fully de-booked at YE2025; standardized measure now nil.