Emerald Energy PLC (hereinafter referred to as Emerald), specialized in oil and gas exploration and production in Middle East and South America, obtains 50% of the nonoperating interests of Block 26 located in Northeast Syria, holds 50%--100% interests of 8 exploration and production blocks in Colombia through registering Emerald Energy Sucursal Colombia, and owns 100% interests of the Block 163 located in Peru through registering Emerald Energy Peru S.A.C.
Headquartered in London, Emerald went public on London Stock Exchange in 1996. On October 12th 2009, Sinochem Group acquired 100% equity of Emerald Energy Plc, which owns oil and gas assets in Syria, Colombia, and Peru. (hereinafter referred to as Sinochem Syria Project, Sinochem Colombia Project and Sinochem Peru Project.) Sinochem Colombia Project is the first onshore project where Sinochem Group acts as operator. Since takeover by us, the daily production had grown significantly, from 3000 barrels to 8000 barrels. With accelerated injection of investment, we expect to achieve an annual producing capacity of 2 million tons of oil by 2013 for Colombian portfolio.
Sinochem Peru Project is located in Block 163 in Ucayali Basin, Central Peru. This block covers an area of 4.998 million square meters, and its exploration and production contract was signed in April 2009. According to the contract, the block enjoys an exploration period of seven years and a development period of 30 years.
In July 2008, Sinochem Syria Project announced commercial discovery and started operation. By the end of 2010, Syria Block 26 had produced an average of 14,180 barrels of oil per day. At present, the Central Producing Facilities (CPF) are being built in the oilfield, which will be finished in 2012 when the daily output of the Block will come to 30,000 barrels.
As Middle East and South America are the two key regions that Sinochem Group ‘s strategy of extending to upstream oil business, Emerald Energy PLC will, on the basis of the development of Syria Block 26 and the blocks in Colombia and Peru, further look for and develop oil and gas projects in Middle East and South America, to enable an increase in its oil and gas output in this region.
EMERALD ENERGY PLC
Add: 17TH FLOOR, NEW ZEALAND HOUSE, 80HAYMARKET, LONDON SW1Y4TE
Tel: +44 (0)20 7925 2442
Fax: +44 (0)20 7930 9613
EMERALD ENERGY PLC SUCURSAL COLOMBIA
CARRERA9A NO, 99-02, OF.603D EDIFICIO CITIBANK BOGOTA, D.C., COLOMBIA
Tel: 00571- 6513500