Netherlands Dutch North Sea

Multi-field offshore natural gas development in the Dutch North Sea comprising operated and non-operated assets. Operated assets (acquired May 2025 from NAM) include six hubs and two main production areas (JDA and L02/L09 fields) across 2,415 net km2 in shallow water. Non-operated assets include the GEMS project (acquired October 2025) featuring the N05-A platform powered by the Riffgat Windfarm, plus legacy interests in K9ab, K9c, K12 and L10/L11a licenses operated by Eni. Gas is transported via the NGT pipeline network and processed at the Den Helder gas plant (operated by Tenaz) and the Uithuizen onshore gas plant.