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Oil & Gas

Oil Production

Nigeria, where ARDCO has been actively involved as Strategic Business Development Advisor to EMERALD ENERGY RESOURCES LTD., is the largest oil producer in Africa and the tenth largest producer of crude oil in the world. In 2006, total Nigerian oil production, including lease condensates, natural gas liquids and refinery gain, averaged 2.6 million bbl/d (of which 2.4 million bbl/d was crude oil). With the help of new projects coming online, the Nigerian government hopes to increase oil production to 4 million bb/d by 2010.

ARDCO is supporting that effort with QRI'S support.

Opportunities

ARDCO is leading the effort to deliver by 2012, the most advanced and efficiently run Refinery in Nigeria. It will be a 300,000bsd plant on Bayelsa State, where EERL has Exploration and Production.

West Africas petroleum refining capacity is concentrated in Nigeria. Nigerias refining capacity is currently insufficient to meet domestic demand, forcing the country to import petroleum products. Nigerias state-held refineries (Port Harcourt I and II, Warri, and Kaduna) have a combined nameplate capacity of 438,750 bbl/d, but problems including sabotage, fire, poor management and a lack of regular maintenance contribute to the current operating capacity of around 214,000 bbl/d. The Nigerian government is granting permits to build several independently-owned refineries in Nigeria. Sapele Petroleum Limited is waiting for final approval to construct a, 120,000 bbl/d oil refinery in Delta State. The refinery is one of the more probable to be built and could save Nigeria as much as $2 billion in costs for refined petroleum imports. Other ECOWAS refineries are located in CÔte dIvoire(Abidjan, 65,200 bbl/d); Ghana (Tema, 45,000 bbl/d); Liberia (Monrovia, 15,000 bbl/d); Senegal (Dakar, 27,000 bbl/d) and Sierra Leone (Freetown, 10,000 bbl/d). CÔte dIvoires refining facilities consist of the 65,200-bbl/d SIR refinery and an adjacent 10,000-bbl/d asphalt plant (SociÉtÉ Multinationale de Bitumes-SMB) in Abidjan. An oil pipeline connects the SIR refinery to the Lion and Panther fields. The refinery also receives crude oil from Nigeria. The state currently owns 47.27 percent of SIR, and expects to retain a 10 percent interest after privatization. Burkina Faso owns a 5.39 percent stake in SIR, and Total, Shell, ExxonMobil and ChevronTexaco own the remainder. The government of Ghana plans to partially privatize its Tema Oil Refinery (TOR) in 2006 in order to raise money for infrastructure developments in the country. In addition, plans are being made to increase TORs capacity to 100,000 bbl/d. Currently, TORs 45,000 bbl/d capacity meets about 80 - 85 percent of Ghanas demand for petroleum products. Ghana hopes to raise $6 million from the sale of TOR and other state-run businesses.

 

 
Oil & Gas

Emerald Energy
Resources Limited


Emerald Energy Resources Limited was designated operator by the government and awarded 55% working interest in OPL 229 during the Year 2000 Nigerian Oil and Gas Licensing Rounds, with Amni International Petroleum Development Company Ltd (Amni) awarded a 45% working interest as our syndicated partner. The 1400 square kilometer OPL 229 block is shown below.

Emerald is organized into business units responsible for exploration, development and production activities within their geographic block areas. Each business unit is comprised of a technical staff of geologists, geophysicists, petro-physicists, landmen, and engineers as well as support staff. Our current business unit is OPL 229. We also have a business unit for the Gas Value Chain, who are engaged in the contract arrangements and engineering for a large processing facility to be built in the southeastern part of Nigeria.

Emerald Energy Resources Limited has the assets, technology, cost structure, people and corporate culture to create significant value for our shareholders.

Encouraged by the government's new indigenous program, the company was incorporated in 1997 under the Laws and Acts of the Federal Republic of Nigeria. The Emerald team has a broad background in conducting petroleum and natural gas field development, production and life cycle asset management in Nigeria and in many other parts of the world. Emerald's officers and directors are well known and respected in the oil and gas industry in Nigeria and worldwide. Brief resumes of Emerald's key principals can be viewed in the company profile.

Emerald's growth into a significant operator in Nigeria is predicated upon close co-operation with major industry players to the benefit of all stakeholders. With its strong foreign technology asset base, and talented and dedicated management team, Emerald is committed to building solid shareholder value through strategic alliances and smart partnerships in the exploration, development, production and marketing of crude oil and natural gas. The financing of the company projects in Nigeria depends to a great extent, on local capital, and to lesser extent, on foreign equity capital. Through private placement programs, the company offers the Nigerian entrepreneurs the opportunity to participate in the country's oil and gas industry and to reap the attendant profits.

 
   
 
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