SABAH SHELL PETROLEUM COMPANY LIMITED

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 101

Reporting scope

Standalone (parent only)

Auditor

Ernst & Young LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“In determining the appropriate basis of preparation of the financial statements, the Directors are required to consider whether the Company can continue in operational existence over the period to 31 December 2026 (the 'going concern period'). The Directors have considered the potential risks and uncertainties relating to ongoing geo-political events and its related economic impact on the Company's business, credit, market, and liquidity position. Based on the above, together with the Directors knowledge and experience of the market, the Directors consider it appropriate to prepare the financial statements for the year ended 31 December 2024 on a going concern basis.”

Significant events

• “GKGJE Phase 4 is a 4 Well Development... The drilling campaign started in March 2024 and was completed in November 2024. Subsea Hardware Installation campaign started in December 2024 and is currently ongoing with First Oil Date ("FOD") targeted in February 2025.”
• “MLK Full Field Review was concluded with a successful milestone review 3("MR3") sitting on 30 May 2024. Three infill opportunities as part of MLK Phase 3 were proposed in Work Programme Budget ("WPB") 25 and the target time to commence for MR4 is in Quarter 3, 2025.”
• “Block 2W: Pekaka-1 Exploration Well completed in 2024.”
• “Block X: 2 remaining well commitment in PSC. Portfolio refresh ongoing to faciliate 2025 decision to fulfil minimum work commitment.”
• “Block 2K and SB-N: Ongoing studies to swap 1 well commitment from Block 2K into Block N in early 2025.”
• “Block 2V: Ongoing portfolio refresh post well results to facilitate Exploration Period extension decision and the Exploration Period expires in September 2025.”
• “The Company paid first interim dividend of RM220,000,000 in June 2025, second interim dividend of RM120,000,000 in September 2025 and third interim dividend of RM75,000,000 in December 2025.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

5

last 12 months

Capital events

0

last 24 months

Officers appointed

2

last 12 months

Officers resigned

1

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -7.9%

  £1,911,823,000 → £1,761,009,000

• Cash

  —

  Not reported

• Net assets

  -15.1%

  £1,357,446,000 → £1,153,107,000

• Employees

  +4.3%

  305 → 318

• Operating profit

  -21.4%

  £1,245,750,000 → £978,728,000

• Profit before tax

  -20.1%

  £1,204,088,000 → £962,488,000

• Wages

  +10.8%

  £70,670,000 → £78,276,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers