PETRODAR
 

About Us

PETRODAR Operating Company 'PDOC' is an operating company working in the industry of exploration, development, production and transportation of crude oil. It operates in blocks 3D, 3E and 7E which are located in the south east of Sudan with a total concession area of 72,420 sq. km. PDOC is incorporated under the laws of the British Virgin Islands and has a registered branch in Sudan.

Blocks 3 and 7 were originally awarded to Chevron a reputable American company. It discovered about 123 million barrels of oil in Agordeed and Adar-Yale fields. The blocks were then returned to the Government of Sudan and were awarded to a consortium composed of; Gulf Petroleum Company (46% of the participating interest in the contract area), a company incorporated under the laws of Sudan, Melut Petroleum Company (46% of the participating interest), a company under the laws of Sudan and Sudapet (8% of the participating interest), a company fully owned by the Government of Sudan.

 

On 20th March 2000, an Exploration and Production Sharing Agreement 'EPSA' was concluded between the consortium members (PDOC Partners) from one side and the Government of Sudan from the other.

On 11th November 2000, an amendment to the EPSA was made. The Government of Sudan terminated Melut Petroleum Company's contract as it had not been able to fulfill its obligations, subsequently part of the company¿s equity was assigned to CNPC International (Nile) (23% of the participating interest), a company incorporated under the laws of Bahamas. The remaining equity of the company was assigned to Al-Thani Corporation (23%), a company incorporated under the laws of the United Arab Emirates.

On 14th November 2001, Al-Thani divested part of its equity to CNPC International (Dar) a company incorporated under the laws of the British Virgin Islands (18% equity) and kept the remaining 5%.

On 30th September 2002, Petronas Carigali Overseas Sdn Bhd, a company incorporated under the laws of Malaysia, farmed-in into the blocks with 40% equity through the acquisition of 87% of Gulf Petroleum Company equity in the blocks.

On 5th August 2003, CNPC International (Nile) assigned 100% of its interest in the area to CNPC International (Dar).

On 26th February 2004, Gulf Petroleum Company assigned its remaining 6% share in the contract area to Sinopec International Petroleum Exploration and Production Corporation, a company incorporated under the laws of the People Republic of China.

Finally, on 31st January 2008, Al-Thani divested its 5% share in the area to Tri-ocean Exploration and Production, a company incorporated under the laws of Cayman Islands. Since then and up to date, the Partners consist of CNPC (41%), Petronas (40%), Sudapet (8%), Sinopec (6%) and Tri-ocean (5%). The EPSA granted a period of 20 years for blocks 3E and 7E and 17 years for block 3D with 5 years extension for each:

       Rights and obligations of the parties.

       Allocation of funding (costs sharing) and revenue arising from the EPSA.

       Modus of operation ' etc.

The contractors also signed a Shareholders Agreement (SHA) and incorporated Petrodar Operating Co. Ltd to act as the operator for the said blocks. The SHA provided the charter or mode on how the company should be set up so as to manage the operation.

 

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