Caspian Sunrise PLC 2020 AR2
The report highlights Caspian Sunrise plc's performance and recovery efforts during the challenging fiscal year 2020, which was heavily impacted by the COVID-19 pandemic. Despite operational disruptions and low domestic oil prices, the company increased its production volumes by 7.7% to 545,667 barrels and grew its revenue by 18% to $14.3 million. Caspian Sunrise completed the acquisition of the Caspian Explorer, a specialist shallow-water drilling vessel, marking its entry into offshore exploration. The company also focused on cost-cutting measures, including reducing Board costs to 25% of previous levels, to ensure financial survival. Additionally, the company established an ESG committee to oversee environmental stewardship, health and safety, and corporate governance.
Company: Caspian Sunrise PLC
Sector: Mining & quarrying
Country: United Kingdom
Year: 2020
Type: AR2
Pages: 77
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Caspian Sunrise PLC
Annual Report And Financial Statements
The report highlights Caspian Sunrise plc's performance and recovery efforts during the challenging fiscal year 2020, which was heavily impacted by the COVID-19 pandemic. Despite operational disruptions and low domestic oil prices, the company increased its production volumes by 7.7% to 545,667 barrels and grew its revenue by 18% to $14.3 million. Caspian Sunrise completed the acquisition of the Caspian Explorer, a specialist shallow-water drilling vessel, marking its entry into offshore exploration. The company also focused on cost-cutting measures, including reducing Board costs to 25% of previous levels, to ensure financial survival. Additionally, the company established an ESG committee to oversee environmental stewardship, health and safety, and corporate governance.
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Document Details
Report Year
2020
Reporting Period
Jan 1, 2020 - Dec 31, 2020
Fiscal Year
2020
Type
Annual Report with Sustainability Disclosures
Language
English
Pages
File Size
Standards & Assurance
Materiality Assessment
ESG Data?Experimental: AI-extracted data, may contain inaccuracies
Employees