Petrodar Operating

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%.