|
1999
|
Petrogas LLC is established in January
1999 and acquires Block-7 (Butabul) contract area in Oman from Elf Petroleum. Petrogas
LLC becomes the operator with a 100% working interest.
|
|
2001
|
Mazoon Petrogas SAOC is formed and
acquires Block-5 (Wadi Aswad) contract area from Japex in January 2001.
|
|
2002
|
Mazoon Petrogas SAOC sells 50% working
interest in Block-5 to China National Petroleum Corporation (CNPC). Daleel Petroleum
Co. LLC is formed as a jointly owned operating company for Block-5.
|
|
2005
|
Petrogas E&P LLC is established
to hold all Group’s interest in oil and gas exploration and production. This includes
the management of interest in Petrogas LLC operator (100%) for Block-7 as well as
in Daleel Petroleum LLC (50%). It also hosts a New Business Development team handling
the evaluation and acquisition of new E&P assets.
|
|
2006
|
Petrogas E&P LLC, as a part of the consortium were awarded 3 exploration blocks
in India under NELP VI bidding round. Three blocks include two shallow water offshore
blocks in Mumbai basin and one onshore block in KG basin. Petrogas E&P LLC is
the operator for one offshore block.
|
|
2007
|
Petrogas E&P India project office
is opened in Gurgaon, India to oversee the E&P activities of the three awarded
blocks.
Petrogas E&P through competitive bidding acquires 30% equity in Area A block
in Egypt.
Petrogas E&P farmed in block 45 & 48, onshore Oman with 50% interest. Subsequently
the interest was assigned to its subsidiary Petrogas Malih. Maersk is the operator
and other 50% holder of the block.
|
|
2008
|
Rima cluster of small fields, onshore
Oman awarded to Petrogas Rima LLC, wholly owned subsidiary of Petrogas E&P.
|
|
2010
|
Achieved production – gross / working
interest* at some 43,245/ 22,108 bopd, more than 40% increase compared to 2009 working
interest production.
|
|
2011
|
Delivered best financial performance
doubling 2010 profit to USD 125 million.
Successfully drilled as operator two offshore exploratory wells.
|