International Petroleum Corporation

International Petroleum Corporation is an international oil and gas exploration and production company focused on assets in Canada, Europe and Southeast Asia. The company has a diverse portfolio of production, development and exploration stage assets.

IPC's key assets include oil sands development at the Blackrod project in Alberta, Canada, estimated to contain contingent resources of 1.0 billion barrels, with the Phase 1 development targeting 30,000 bbl/d. In Europe, IPC has production in France and 2P reserves of 10.1 MMboe while In Southeast Asia, IPC's main asset is the Bertam oil field offshore Peninsular Malaysia with two production wells scheduled for workover in Q4 of 2023.

In total, IPC has 2P reserves of 487 MMboe as of end 2022 and average production guidance of 50,000 boepd for 2023. The company has a balanced portfolio between production, development and exploration assets across stable jurisdictions. IPC aims to deliver operational excellence, demonstrating high environmental and social governance performance.

The company has a track record of value-accretive mergers and acquisitions. Going forward, IPC is focused on developing its resource base in a sustainable and economic manner, while aiming to return capital to shareholders. Execution of the Phase 1 development at Blackrod could position IPC for significant future growth.