Tri-Ocean Energy Operations in South Sudan
Tri-Ocean Energy entered South Sudan in March 2008, when it signed an agreement with Sudanese state-owned company Sudapet to buy a 5 percent stake in the Sudanese oil consortium Petrodar for $400 million; the consortium includes China National Petroleum Corporation (CNPC) (41 percent), Petronas (40 percent), Sudapet (8 percent) and Sinopec (6 percent). Tri-Ocean signed the agreement with Sudapet, at the time one of the shareholders of Petrodar. Tri-Ocean Energy's holdings in Sudan consisted of producing fields in blocks 3 and 7, which in 2011 had an average production of approximately 245,000 barrels per day (bpd).
As part of its shipping and trading operations, according to the company website, Tri-Ocean Energy loaded 600,000 barrels cargo from South Sudan in October 2011, worth about US $60 million, while also opening up new markets for Dar Blend crude.
- "Egypt Kuwait Hldg buys 5 pct of Sudan's Petrodar" Reuters, Retrieved 5 July 2012.
- "IMPLEMENTING CORPORATE SOCIAL RESPONSIBILITY IN SOUTH SUDAN" Integrity Research and Consultancy, October 2011.
- "Tri-Ocean Energy" Egypt Kuwait Holding website, Retrieved 5 July 2012.
- "Shipping & Trading" Egypt Kuwait Holding website, Retrieved 5 July 2012.
- "S. Sudan: Foreign oil companies sign transitional agreement" South Sudan Today, 16 January 2012.