(Direct excerpt from the 2018 Annual Report)
*Name available on request as public information
The Challenge
- Following the 2014 oil price crash to ~$30/bbl, the company launched an aggressive cost reduction initiative targeting a 20% reduction in OPEX, from $7.40/bbl to $6.00/bbl.
The Leadership & Approach
As Chief Procurement Officer, Hendrik Snyman stepped up to lead as Chief Transformation Officer. While many expected savings solely from squeezing third-party suppliers, the program delivered through three equal levers:
- Third-party suppliers;
- Specifications optimization;
- Process improvements.
The Results
- Achieved $5.00/bbl OPEX (exceeding the target);
- Generated $1 billion in total savings across OPEX, Sustaining Capex, and Capex;
- Of which $600 million was recurring and sustained long-term.
Key Proof Points From The Report
- No production increase from 2014 to 2017: pure cost efficiency gains;
- Full executive and senior leadership support and active participation;
- Post-program, led Performance Excellence across the company to ensure savings "stick", and they did;
- Deep finance involvement throughout verified real savings, while delivering breakthrough business understanding to the finance team.
Sustained Savings:
Built to Last
Multi-Million Dollar
Transformation of a Resource
Company
(Direct excerpt from the 2025 Annual Report)
*name available on request as public information
The Challenge
Following the onboarding of a new CEO and a comprehensive strategic review, the company set ambitious targets:
- Field operating costs below $13/unit equivalent;
- 20% reduction in sustaining capital expenditure;
- Free cash flow breakeven oil price reduced to below US$30/unit.
The Results
All targets were achieved well within 1 year:
- 18% reduction in unit field operating costs to $12.8/unit equivalent;
- 20% reduction in sustaining capital expenditure, delivering an absolute cost reduction of $130 million;
- Free cash flow breakeven oil price reduced to below US$30/unit;
- Additional upside: 13% increase in realised unit price through disciplined marketing strategy.
The Leadership & Approach
Hendrik Snyman, as Chief Procurement Officer, was appointed General Manager Transformation Officer to lead the full cost transformation program. The results were delivered through these balanced levers:
- Third-party suppliers;
- Specifications optimization;
- Process improvements;
- Embedding proven transformation principles as the critical driver, ensuring disciplined execution and sustained delivery of results.
Key Proof Points from the Report
- Full executive and senior leadership support and active participation throughout;
- Deep finance involvement from day one to verify that savings were real and structural;
- The program not only delivered verified cost reductions but also provided Finance with breakthrough understanding of the business.
OUR IMPACT
This is the real, verified impact we've delivered throughout our careers to businesses just like yours.
Every cent saved is proof of what happens when SPARK meets SERVANTHOOD, when SIMPLICITY cuts through complexity,
and when true STEWARDSHIP turns short-term wins into enduring legacies.
Your billion-dollar future starts here. Ready to add your savings to the count?
$1,000,000,000+
dollars saved, and counting...
