2023
Annual Report

I assumed the role of non-executive Chair at the beginning of the year and am pleased to report that my transition to non-executive Chair as a “first among equals” of Directors of the Board has gone smoothly and effectively. The success of this transition was substantially due to the appointment of the Company’s Chief Executive Officer, Thomas Nador, reporting to the Board and responsible for the management of the operations of the Company. This management transition was a direct reflection of the Company’s operational transition from a focus on exploration to a focus on appraisal and development activity for the Rafael conventional gas and condensate discovery and the growing importance of our natural hydrogen and CCS activity.

2023 was another successful year for Buru as we continued to make material progress on our strategy to find, enable and develop gas and oil resources safely and competitively, whilst evolving our complementary new energy businesses that support a structured transition to a low carbon economy.

It has also been an eventful year for Buru, bookended by both opportunities that the Company was able to seize due to its agile and entrepreneurial culture, and challenges which have tested its ability to adapt, persevere, and demonstrate resilience.