Established in 2019 following the merger of Oranje-Nassau Energie and Dyas, ONE-Dyas is the largest privately-owned Dutch oil & gas exploration and production company. Its core interests are in North Sea oil and gas.
Company strategy is focused on developing an already strong portfolio of operated and non-operated assets and investments in the UK, the Netherlands, Norway, Denmark, and Gabon. ONE-Dyas is uniquely positioned to take growth opportunities and create both short- and long-term value for all stakeholders - including SHV, which owns a 49% share of the entity.
The last year has seen a resurgence of growth opportunities in North Sea oil and gas production. While gas prices reached a record low in 2020, the trend reversed in 2021 as commodities recorded unprecedented growth.
2021 also saw number of positive developments on the operational front. The operated portfolio was buoyed by two exploration successes, in addition to a highly satisfactory set of results from producing assets. As for the non-operated portfolio, the Arran field came on stream and the Buzzard Phase II development was successfully completed. Further investments were also made, most notably in Breagh, an onshore electrified compression project in the UK; and Nova, an oil development project powered by electrical energy in Norway.
ONE-Dyas continued to roll out and implement its Environmental Social and Governance (ESG) strategy over the course of the year. This has gone beyond merely embedding a new approach into the organisation, especially since the ‘S’ and the ‘G’ already played an intrinsic part of company culture. The main focus is now on the ‘E’, which for ONE-Dyas represents the energy transition.
This focus is making a positive impact in all kinds of ways, such as seeing shareholders, financiers, partners, and suppliers all willing to support an entrepreneurial approach to the energy transition. From electric drilling powered by offshore wind energy to using biofuel on the platforms, ONE-Dyas is dedicated to producing local gas, which plays a key role in the energy transition, with near-zero emissions.
Steady production, alongside rising oil and gas prices and operational expenses and capital expenses in line with forecasts, has resulted in a very successful year both in terms of cash flow and net profit.