SAPETRO
West Africa’s Exploration GiantsWriter:Emily JarvisProject Manager:Nick NorrisThe West Africa region is rich with resources and an area where mining activity is guaranteed to have a bright future. In line with this, exploration and production companies operating here, such as the indigenous South Atlantic Petroleum (SAPETRO) have witnessed an increase in oil & gas activity in recent years.Since establishing in 1995, the Company has been taking some of the biggest risks in the industry in searching for new oil fields, while seeking to create value in the pursuit of rewarding exploration throughout the value chain.With a balanced portfolio of six assets in five countries spanning the full cycle of exploration and production, the privately held Nigerian oil & gas company, SAPETRO is rapidly growing its operations in Nigeria, the Republic of Benin, Madagascar and the French Overseas territories.“With a net acreage position in excess of 74,890 square kilometres, SAPETRO is currently the second largest operated acreage holder in offshore East and Southern Africa and is well placed to play a leading role in one of the world’s major emerging hydrocarbon provinces,” said the Company, who added that its focus remains on continued strategic growth in Sub-Saharan Africa while building lasting and beneficial partnerships along the way.Partnering for successBack in 1998 during Nigeria’s first bid round, SAPETRO was awarded the deepwater frontier acreage OPL 246. The Company entered into a partnership with Total and Petrobras to undertake a very successful exploration programme leading to the discovery of the 500mmbbl (million oil barrel) Akpo field, and the similar size…
SAPETRO
Built in Africa SAPETRO is a Nigerian based upstream oil and gas exploration and production company with portfolio of five assets in four countries spanning the full E&P value chain. Writer Chris Farnell Project manager Sheridan Halls Perhaps one of the most crucial sectors in the modern oil and gas industry is the exploration sector. The people who search for new oil fields are among those taking the biggest risks in the industry, while seeking out the greatest rewards. This is what SAPETRO does. The firm is an indigenous Nigerian exploration and production company with operations in Nigeria, the Republic of Benin, Madagascar and the French Overseas territories. The company was established in 1995 with the specific objective of building up the Nigerian capability to participate in the hydrocarbon industry. It was an ambitious goal, but one which very quickly began to pay off. "In the indigenous bid round in 1998 SAPETRO was awarded the deepwater frontier acreage OPL 246," explains Martin Trachsel, SAPETRO's CEO. "The company entered into a partnership with Total and Petrobras to undertake a very successful exploration programme leading to the discovery of the 500mmbbl Akpo field and the similar size Egina field. Post discovery the partnership was joined by CNOOC and the four parties jointly undertook the development of the Akpo field. The Akpo fi eld came on stream in 2009 and is now producing at a plateau rate of 175,000bbls/day. This year the partnership also took a final investment decision to bring Egina fi eld on stream by 2017. They're…
