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Company Profile
1. Name
The name of the company is "Petrodar Operating Company Ltd".
2. Legal Status
Petrodar is an International Business Company, incorporated under
the laws of the British Virgin Islands on 31st October 2001.
3. Objectives
The main objective of Petrodar is to explore, develop and produce
oil and gas in Blocks 3 and 7. These blocks are situated in the
south east of Sudan, between longitude 31 and 34 and latitude 8 and
10 with a total area of about 72,000 Km2.
4. Shareholders
Petrodar is a consortium composed of the
following companies:
China National Petroleum Corporation (CNPC), a Chinese national
company, incorporated in the British Virgin Islands and has a
registered branch in the Sudan. It owns 41% of the shares of
Petrodar.
Petroliam Nasional Berhad (PETRONAS), a national Malaysian oil
company, incorporated in Malaysia and holds 40% of the shares of
Petrodar.
Sudan Petroleum Company (SUDAPET), a company owned by the Government
of Sudan and holds 8% of the shares of Petrodar.
China Petroleum & Chemical Corporation (SINOPEC), a private company,
incorporated in China and holds 6% of the shares of Petrodar.
Tri-Ocean Exploration & Production, a private company, incorporated in
Cayman Islands and owns 5% of the shares of Petrodar.
5. Financial Resources
Petrodar is a non-profit making company. It depends on its financial
resources upon monthly cash calls paid by its shareholders to meet
the
company's financial obligations during each month.
6. Management
Petrodar is managed by its Board of Directors and Management
Committee (MC) members. The MC is composed of five members: a
President,
a Vice President and three General Managers; one for Finance &
Services, the second is for Exploration & Production and the third
is for Pipeline.
7. Main Office and Branches
Petrodar has its head office in Khartoum and its operation base is
in Adar and has no branches outside the Sudan. |