SAPETRO

W W W . A F R I C A O U T L O O K M A G . C O M

S A P E T R O A key player in Nigeria’s oil and gas industry

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SAPETRO is a Nigerianbased 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

erhaps 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 parternership was joined by CNOOC and the four parties jointly undertook the development of the Akpo field.

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The Akpo field 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 field on stream by 2017. They’re predicting the Egina field will have a production rate of 200,000bbls/day. Additionally SAPETRO has continued to expand into new frontiers, laying claim to yet more lucrative territories.

“In 2004 we entered the Republic of Benin as an operator in our own right. There we are the 100 percent owners of block 1, where we have concluded a successful appraisal programme and are currently redeveloping the Seme field,” Trachsel says. “More recently in 2011 we acquired very substantial acreage in the Mozambique Channel from Roc Oil where we have undertaken a 13,000km high-tech 2D seismic survey, Continued

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The Akpo field 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 field on stream by 2017”

BRISTOW HELICOPTERS

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www.bristowgroup.com

ristow Group is the leading provider of helicopter services to the worldwide offshore energy industry based on the number of aircraft operated. The Group is one of two helicopter service providers to the offshore energy industry with global operations. Our Company has major Logistics operations in the North Sea, Nigeria and the U.S. Gulf of Mexico, and in most of the other major offshore oil and gas producing regions of the world, including Alaska, Australia, Brazil, Canada, Russia and Trinidad.

Bristow Helicopters Nigeria is one of the largest and leading helicopter providers in the energy sector of the Nigerian Economy. We maintain a fleet of helicopters ranging in size and capacity from small through to heavy this allows us to meet our clients’ unique needs. Bristow Helicopters is known for adhering to the highest standards for safety, quality and integrity this ensures delivering industry leading values to our clients.

We are able to track our continuous improvement procedures to provide valued services to IOCs and LOCs; this we do to guarantee high values to our clients. We work in innovative partnerships with our clients, further developing our workforce whilst expanding business and extending our horizons.

Our aim and commitment to our clients and the Nigerian Economy is in the provision, over 29years; well trained personnel through our Pilots’ training

selection program and engineering training in collaboration with NCAT Zaria.

Solution to Clients • Efficient crew change • Reduction in Exploration and Production Cost • Fast and efficient Medical Evacuation • Safe and performance driven engineering Services Solution to Nigeria Manpower • National Pilots training: • Engineering Training • Administrative staff training and development Our Target Zero Culture “Target Zero” is our value promise to our clients. Our “Target Zero” program will ensure, Safety, Reliability - reduce client’s production; and On-Time- Departure Performance. In keeping with our “Client Promise” to deliver Target Zero – Accident; Downtime and Complaint, Bristow’s developed scorecard (called Client Value Added Card _CVA) tracks and manages our drive towards the delivery of superior safety and customer service to our clients. Our service to each client is measured on Safety; Reliability and Customer Complaints. We believe that when Target Zero is achieved on these measures, it will substantially reduce exploration and production costs for our clients. Bristow partners with clients to look for ways to improve crewchange planning and aircraft utilization which ultimately impacts our clients’ production costs.

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SEAMLESS DELIVERY...

World class conductor supported platforms and riser systems, along with hydraulic systems, rental equipment and full installation support, providing complete project delivery – from conceptual design and engineering analysis to procurement, construction, and life-of-field support.

...YOUR TRUSTED PARTNER

Visit us at: aquaterraenergy.com R I S E R S Y S T E M S | O F F S H O R E S T R U C T U R E S | H Y D R A U L I C S Y S T E M S | S E R V I C E & R E N TA L

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which shows very significant promise.

Starting in September we will undertake a 9,000sqkm 3D survey in the same area, and we’re very excited about the potential results.”

What makes SAPETRO’s story so interesting isn’t just the highly successful ventures the company has already engaged in however, it’s that these successes are happening in the hands of an entirely indigenous African company.

As the company’s slogan says, “Africa is our home”.

“SAPETRO is a home-grown African company who understand doing business in Africa and how to create and maintain value adding partnerships,” Trachsel says. “The company has been highly successful in creating value in Nigeria and intends to continue doing so while looking for high impact opportunities to repeat

In 2011 we acquired very substantial acreage in the Mozambique Channel from Roc Oil where we have undertaken a 13,000km high-tech 2D seismic survey, which shows very significant promise”

this success in other African countries.”

Of course, any success worth having doesn’t come easily, and creating an entirely home grown exploration operation from scratch was no mean feat.

“When SAPETRO started out the biggest challenge was in building our technical capabilities from scratch. But there is a lot of talent in Nigeria which the company has been able to capture and develop. Our joint venture has faced and overcome the challenges of successful deepwater development in Nigeria while maximising the use of local content. Abroad we operate in a highly competitive environment but we have been successful in obtaining attractive exploration positions and demonstrating that we can successfully operate and explore abroad.”

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Aquaterra Energy

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Tel +44 (0) 1603 788233 Email jameslarnder@aquaterraenergy.com www.aquaterraenergy.com

quaterra Energy’s work in developing innovative solutions to offshore drilling challenges has earned the company a place in the top rankings of the world’s offshore oil and gas engineering providers.

The company specialises in riser systems and offshore structures, with particular focus on innovation in rig installable conductor supported platforms (CSPs). The benefits of CSPs often outweigh those of traditional platforms and subsea trees for shallow water development projects. Aquaterra Energy’s Sea Swift CSP allows marginal fields to be developed quickly, using just the jack-up and supply vessel needed to drill the wells to install a complete platform.

Sea Swift offers all the benefits of a traditional platform, coupled to the rig based installation of a subsea development. This field proven technology helps Aquaterra Energy’s customers to achieve reduced platform costs, lower installation costs, simplified critical path and reduced intervention costs within shallow water developments.

Sea Swift also opens up opportunities for accelerated first oil and removes the scheduling barriers inherent in developments requiring multiple installation vessel types.

By providing a complete solution approach, from design through to fabrication and ultimately offshore installation, Aquaterra Energy has

developed a proven track record. From the world’s first CSP in 65 metres of water offshore Malaysia to sub 20 metre developments offshore West Africa, the CSP is a remarkably adaptable solution.

Following a global design competition, the Aquaterra Energy team has commenced work to design, fabricate and install a minimum facilities CSP off the West African coast for South Atlantic Petroleum Benin S. S. (SAPETRO). Now at the fabrication stage, the contract was awarded following completion of a detailed pre-engineering design study by the Aquaterra Energy team, which resulted in the development of a fast track solution intended to meet SAPETRO’s accelerated timeline and budget.

The Aquaterra Energy designed Sea Swift CSP for SAPETRO will be located in water depths of 26 meters and will connect three planned wells with an on-shore processing facility located 15km away. It will consist of integrated deck topsides, riser guides, boat landing and a subsea jacket structure. Facilities equipment will be controlled from the on-shore facility via an integrated fibre optic communication and power cable. The platform will be fabricated in Africa and installed under supervision of Aquaterra Energy’s offshore service team.

The low cost, fast track nature of the Sea Swift CSP will ensure that the oil field is a commercially successful development for SAPETRO and commitment can be made to an early first oil date.

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Of course a large part of the reason the company’s ventures have been so successful is that SAPETRO is a company dedicated to building the best team it possibly can. To this end the firm has an extensive and thorough recruitment process.

“We advertise all our positions in the national papers to ensure people from all over the country have a chance to apply but we also invite nominations from recruitment companies,” Trachsel says. “So we

SAPETRO is a homegrown African company who understand doing business in Africa and how to create and maintain value adding partnerships”

always have a large pool to select from and take great care in t he selection process to find excellent candidates.”

But building the best team doesn’t end with simply hiring the right staff.

“Once hired we take care to ensure our staff have opportunities to develop and grow and we provide frequent training opportunities. In the past we have posted some staff with partners for development, but we now have enough of our own Continued

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First Bank of Nigeria First Bank of Nigeria Limited is Nigeria’s largest financial services institution by assets and gross earnings. With more than seven million cus¬tomers, over 750 branches and five subsidiary companies, First Bank provides a comprehen¬sive range of financial services. The bank has an international presence through its subsidiaries, FBN Bank (UK) Limited in London and Paris, and Banque International de Credit (B.I.C) in the Republic of Congo, as well as its representative offices in Johannesburg, Beijing and Abu Dhabi.

SOLID FOUNDATIONS

Tel +234 708 062 5000 / +234 1 448 5500 Email firstcontact@firstbanknigeria.com www.firstbanknigeria.com

Since its establishment in 1894, the bank has consistently built relationships with customers focusing on the fundamentals of good corpo¬rate governance, strong liquidity, risk manage-ment and strong capitalisation. First Bank has 1.3 million shareholders globally. It is quoted on The Nigerian Stock Exchange (NSE), where it is one of the most capitalised companies, and also has an unlisted Global Depository Receipt (GDR) programme. Both sets of listings were transferred to a holding company, FBN Holding Plc, in December 2012.

First Bank has evolved and re-invented itself in line with the dynamic operating envi¬ronment in Nigeria and customers’ needs. Our recent metamorphosis – culminating in the preparation for the celebration of our 120th anniversary – places the bank in good stead to take advantage of the multitude of opportuni¬ties in the economy.

With the bank’s global reach, it provides investors wishing to explore the vast business

opportunities that are available in Nigeria with an internationally competitive, worldclass brand and a credible financial partner.

INSTITUTIONAL BANKING GROUP

The Institutional Banking Group banks several key organisations across five industry groups – Energy, Telecoms, Construction an Infrastructure, Conglomerates and Services, Manufacturing, and Financial Services/ Multilateral Agencies.

The Group’s target market and clients include multinationals, large corporates and corporate players, specialized businesses like International Oil Traders, and Financial institutions, both local and international.

The group provides an array of banking and financial services ranging from project finance, trade and corporate finance, reserved based lending, term loans, foreign exchange, treasury services, cash management, guarantees, as well as bespoke solutions that are unique to individual client’s requirements.

ACCOLADES

FirstBank received ‘The Bank of the Year in Nigeria’ award from The Banker in December 2012. It was also the recipient of the ‘Best Bank in Nigeria’ in the Euromoney Awards for Excellence 2013 and ‘Best Bank in West Africa’ in the African Banker Awards 2013; ‘Best Financial Reporting Company’ by Africa Investor, and ‘Most Innovative Bank in Africa’ by African Banker Awards. For two consecutive years, 2012 and 2013, the Bank has been named ‘Nigeria’s Number One Banking Brand’ by The Banker and Brand.

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operations and mentors to develop people internally.”

Today the hard work of SAPETRO is really starting to see some concrete results, as it comes to the end of what has been an extremely productive year for the company.

“The last 12 months have been extremely busy but highly successful,” Trachsel says. “Akpo has produced steadily at its designed plateau and we have managed to overcome the many challenges in making a final investment decision on Egina. In Seme we have successfully commenced the field redevelopment programme and we are now constructing facilities and preparing for drilling in October. Meanwhile, in the Continued

OBAX WORLDWIDE LTD

When SAPETRO started out the biggest challenge was in building our technical capabilities from scratch.

But there is a lot of talent in Nigeria which the Company has been able to capture and develop”

OBAX has a long standing track record of providing the following services in Nigeria and across the continent.

Engineering and project management Services Maintenance of Offshore and Onshore Pipeline and Production services Installation and Upgrade of onshore and offshore production facilities and platforms Marines Services & WellTesting services Tank farm construction services & Agricultural Services.

OBAX PROJECT HISTORY & CURRENT ACTIVITIES EPCI of Seme 12,000BOPD Onshore Process Facility (Ongoing) EPCC of 2x50,000BBL Storage Tanks System (Ongoing) EPCI of 200MMSCD Ovade -Ogharefe Cryogenic Gas Plant Project Engineering Construction and Upgrade of Ovade-Ogharefe Flow Station Electrical and Instrumentation works for 130MMSCD Ovade-Ogharefe Gas plant (Phase 1) Fabrication of 2 x 20,000bbl Crude Oil storage Tank Lease, Construction Operation and Commissioning of 10,000 EPF Facilty Fabrication & Installation of Pipe Spools and tank Drain Lines.

OBAX owns a range of heavy and light duty construction equipment for ensuring effective and speedy project delivery.

Tel +234-803-728-1668 / +1-314-581-9074 Email ceo@obaxworld.com

www.obaxworld.com

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WORLDWIDE LIMITED Obax worldwide Limited is an oil and gas Construction Company which has built up a reputation for delivering Engineering, Procurement, Construction, Installation and Commissioning (EPCIC), Operation & Maintenance (O&M)services in the oil and gas Industry

PROCESS SYSTEMS | ENERGY | MARINE | INFRASTRUC TURE | DRILLING | WELL TESTING

Tel: +234-803-728-1668 / +1-314-581-9074 Email : ceo@obax world.com w w w.obax world.com

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ENERGY AND MINERAL RESOURCES LTD EMR is a consulting firm providing independent commercial and technical advice to companies in and associated with the oil and gas industry.

EMR’s services cover the entire range of the oil and gas business lifecycle in both Oil & Gas and mineral resources to major and independent oil and gas, exploration and production (E&P) companies and include: Exploration / portfolio management Field development studies and operations planning Feasibility studies including concept evaluation Project management and Engineering consultancy Geological laboratory and allied services Gas market advice Oil and gas asset valuations and due diligence Expert advice to banks / financial institutions for debt or equity finance.

Tel +234 1 461669 Email info@emrng.com, emr. geoscience@hyperia.com

www.emrng.com Mozambique Channel we have been delighted by the results of our 2D seismic interpretation with the identification of over 70 leads, the best of which we will shortly be covering by 3D seismic.”

But even this is just the beginning of what SAPETRO has planned.

“We’re definitely planning steady further growth inside and outside Nigeria,” Trachsel tells us. “We are currently looking very seriously at IOC divestment opportunities and I think we will be able to put together some very credible and serious bids focusing on what we can do to build production for Nigeria and improve the lives of Continued

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The last 12 months have been extremely busy but highly successful”

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Brone Positioning & Survey Limited was incorporated in the year 2000 being the first of the Brone Group of companies. Specializing in Geo-Hazard Surveys, Analogue Surveys & Rig Positioning, Brone Survey has well established itself as a strong entity, one not to be ignored with operations from Nigeria to neighbouring West African countries such as Ghana, Cameroon, Republic of Benin and Liberia.

Brone Geo-Solutions Limited was incorporated in 2008 with the acquisition of the first indigenous wholly owned 2D Seismic Survey Vessel in West Africa, the RV Brone Explorer. Specializing in marine operations and now, geotechnical surveys

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with the recent acquisition of the MV Brone Investigator.

The company serves the marine and geotechnical operations of the group.

Brone Positioning LLC, USA is a member of the Brone Group. Incorporated in 2008, it serves as the US liaison for many purchase agreements and arrangements with foreign allies and entities.

Brone Systems UK Limited is the newest addition to the group. Incorporated to manage the activities of the group in Europe, it is looking to expand the group’s business reach to new areas and territories in the North Sea and beyond.

Core Principles Some of the principles that we have aggressively imbibed to form the basis of our work culture therefore giving us the cutting edge and making us the preferred option for many are listed as follows:

Group Fast Facts Group headquarters is situated in Port Harcourt, Nigeria.

Enforcing uncompromising levels of job ethics.

Executed over 300 survey and positioning projects in Nigeria and beyond.

Employing competent staff.

Applying tested and proven methods of work execution.

Adopting best practice standards.

Staff strength of approximately sixty (full time).

Pioneered local participation in the marine survey business in Nigeria.

Executing projects in strict compliance with ISO 9001 based work instructions.

Appropriating new technological innovations in soft and hardware.

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local communities while continuing to build our company. We’re also going to continue to explore our concessions in the Mozambique Channel as well as looking for further high impact opportunities elsewhere on the continent.”

Amidst this expansion, SAPETRO continues to enjoy unrivalled support from its owner, Nigerian military general turned businessman, General Theophilus Danjuma, whose other interests span across shipping, construction, hospitality, petrochemicals and real estate. Having a wholly owned Nigerian oil and gas company providing opportunities for Nigerians in addition to exporting valuable skills to other African countries where significant investments are being made by SAPETRO in the exploration and development projects is truly a dream come true.

To learn more visit www.sapetro.com.

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UNITRUST INSURANCE Unitrust is Nigeria’s leading general insurance company delivering differentiated insurance products since 1986 with an outstanding Board chaired by General T. Y. Danjuma (Rtd) and an experienced management team led by Mr. J. Matni Integrity, ethics and professionalism are our core values A strong reinsurance support led by Munich Re A strong financial base with =N=5 billion authorized share capital, out of which =N=3.3 billion fully paid up and its shareholders’ fund is in excess N5.89 billion Gross premiums written in 2012 is over N3.17 Billion with a net profit of about =N=694 million Prompt claims payment as over N1.3 billion paid in 2012.

Tel 01-4617031-2, 4626850-2, 2701167-9 Email info@unitrustinsurance.net or jmatni@unitrustinsurance.net

www.unitrustinsurance.net

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We are proud to be associated with South Atlantic Petroleum Nigeria Ltd (SAPETRO) We create value for our stakeholders by ethically delivering dierentiated products and partnering with our clients to proactively manage their risks

Web: www.unitrustinsurance.net

Email: info@unitrustinsurance.net

We are currently looking very seriously at IOC divestment opportunities and I think we will be able to put together some very credible and serious bids focusing on what we can do to build production for Nigeria and improve the lives of local communities while continuing to build our company�

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ENQUIRIES

SAPETRO

Tel (UK): +44 (0) 1603 559 151

2nd, 11th and 12th Floors

Tel (SA): +27 (0) 21 527 0053 ben.weaver@outlookpublishing.com

SUBSCRIPTIONS Tel (UK): +44 (0) 1603 559 144 ian.armitage@outlookpublishing.com

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South Atlantic Petroleum Towers 1, Adeola Odeku Street Victoria Island, Lagos Nigeria Tel: +234 (0) 1 270 1906 Fax: +234 (0) 1 270 1907 Email: info@sapetro.com

www.sapetro.com