Commodity Price Volatility Risk: Fluctuations in global oil and gas prices directly impact SOC's revenue, profitability, and project investment decisions, making long-term financial planning challenging.

Operational & Environmental Accident Risk: The inherent risks of offshore drilling and production, including equipment failures, oil spills, and safety incidents, could lead to significant financial penalties, environmental damage, reputational harm, and operational shutdowns.

Regulatory & Compliance Risk: SOC faces stringent and evolving environmental regulations, safety standards, and permitting requirements across various jurisdictions; failure to comply or new, more restrictive policies could result in fines, project delays, or increased operational costs.