Exploration & ProductionPrint
Established as the first sector of Tri-Ocean Energy, the exploration and production sector represents the core of our business. With assets in Egypt, South Sudan and Syria ranging from exploration assets to producing assets, we are well underway to build a balanced portfolio.
A Standard of Quality
When analyzing a new opportunity, we have a strict screening and evaluation process to ensure that we select ventures with the most favorable returns and growth potential. Once on board, we actively participate in developing strategy, toning budget and holding ourselves and our partners to strict international operating and HSE standards to address all of the occupational concerns of our workers as well as the surrounding community and environment.
We enhance the value of our concessions by utilizing the extensive knowledge and experience of our team of exploration and production experts who are the best in their fields. From legal consultants to onsite engineers, we deploy the people and technology that have the qualifications and expertise to carry out our projects within the local cultural, legal, political, and natural environment.
Looking to the Future
We will continue to expand our presence in the Middle East and Africa, using our favorable position as a company with local knowledge and experience in the region combined with world class expertise. We are actively seeking to add to our portfolio numerous onshore and offshore ventures, both as a partner and as an operator.
In June of 2007, Tri-Ocean Energy acquired a 50% stake in the North Shadwan concession in the Gulf of Suez, marking the company's first exploration opportunity. This venture, in partnership with British Petroleum, announced its first oil discovery in October of the same year. In May of 2008, we signed a 20% farm-out agreement for this concession with Beach Energy, a large independent publicly listed company based in Australia. The concession has proven to be successful and production started in 2012.
In April of 2011, Tri-Ocean Energy finalized the acquisition of an 80% share and operatorship in the West Gebel El-Zeit Development Lease (WGEZ) from Sahara Oil & Gas, which remains a partner in the block with a 20% interest. WGEZ is an onshore block in the Eastern Desert. In 2011, Tri-Ocean Energy executed an ambitious drilling campaign to put the field back into production, appraise a new reservoir and explore further upside in the WGEZ block.
In September 2010, Tri-Ocean Energy and Beach Energy were awarded an exploration license for Block 2, Wadi Abu Haad, by Ganoub El-Wadi Petroleum Holding Co. (Ganope). The block is adjacent to the West Gebel El-Zeit concession, which may provide opportunities to achieve operation synergies between the two assets. The award of the exploration license is still pending the ratification of the Egyptian parliament.
30% stake in North Shadwan, Gulf of Suez, Egypt
80% Stake and operator in West Gebel El-Zeit, Eastern Desert , Egyt
50% Stake and operator in Wadi Abu Haad, Eastern Desert , Egyt
In South Sudan, Tri-Ocean Energy controls a 5% stake in one of the largest oil producing blocks in the region, blocks 3&7.. This concession is operated in partnership with Petronas, CNPC, Sinopec and Nilepet through Dar Petroleum Operating Co. (DPOC).
5% stake in Dar Petroleum, South Sudan
In June 2009, Tri-Ocean Energy signed an agreement to acquire an aggregate of 60% interest, equally split, in two exploration blocks in Syria from Royal Dutch Shell, one of the world's most renowned energy companies. The blocks, block 13 (Ammouria) and block 15 (Ouzeina), are located in the southern part of Syria at the border of Iraq and Jordan where multiple TCF's of gas fields have been discovered. Both blocks have substantial potential of oil and gas resources.
In January 2010 Tri-Ocean Energy acquired a 15% share in Block 24 from the operator IPR (remaining with a 25% share). The other partner in the block is the Indian E&P company ONGC (OVL) which holds a 60% stake. Block 24 lies in a prolific region for oil production and contains three discoveries located in the northeastern area of the block, namely: the Rashid, Abu Khasab and South Abu Khasab fields. On our assets in Syria force majeure has been declared by the respective operators due to the sanctions imposed on the Syran Energy sector by the european Union.
30% stake in block 13 and block 15, Syria
15% stake in block 24, Syria