Tri-Ocean Energy Operations in South Sudan

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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;[1] the consortium includes China National Petroleum Corporation (CNPC) (41 percent), Petronas (40 percent), Sudapet (8 percent) and Sinopec (6 percent).[2] Tri-Ocean signed the agreement with Sudapet, at the time one of the shareholders of Petrodar.[1] 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).[3]

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.[4]

The company signed a transitional agreement with South Sudan's South Sudanese Ministry of Petroleum and Mining in January 2012.[5]

References

  1. 1.0 1.1 "Egypt Kuwait Hldg buys 5 pct of Sudan's Petrodar" Reuters, Retrieved 5 July 2012.
  2. "IMPLEMENTING CORPORATE SOCIAL RESPONSIBILITY IN SOUTH SUDAN" Integrity Research and Consultancy, October 2011.
  3. "Tri-Ocean Energy" Egypt Kuwait Holding website, Retrieved 5 July 2012.
  4. "Shipping & Trading" Egypt Kuwait Holding website, Retrieved 5 July 2012.
  5. "S. Sudan: Foreign oil companies sign transitional agreement" South Sudan Today, 16 January 2012.