New Venture, International & Unconventional (NVIU) Asset functions under Exploration Directorate and is responsible for sustaining and growing the business in a low oil price scenario and portfolio optimization through farm-in/out and acquisition of new blocks by participating in local and international bid rounds.
NVIU is PPL’s functional center for strategy and new business ventures. The ambition of the NVIU business area is to closely link corporate strategy and new venture initiatives to actively drive PPL’s corporate development. NVIU is responsible for PPL’s global/local new business E&P strategy, identifies, develops, and delivers both organic/ inorganic E&P business growth solutions.
Further, open areas evaluations and licencing policy is also carried out. The asset enables the company to form joint venture with other E&P companies to share risk and investment and expand international business portfolio.
In addition, NVIU identifies business diversification initiatives in the realm of mineral exploration that hedge PPL’s conventional business model from oil price volatility. All NVIU initiatives are achieved through close collaboration across different geographic locations and business areas.