Historic Operations

Nigeria

In 2005, CC Oil & Gas, working in partnership with the UK’s Centrica Plc, acquired a 30% non-operated interest in Oil Prospecting Licenses 276 and 283 in south-east Nigeria.

In doing so, the company took on a two-phase minimum work obligation:

Phase 1: Drill two exploratory wells and acquire and process 1,000 km of 2D seismic data
Phase 2: Drill one exploratory and/or appraisal well

Exploration and seismic analysis revealed the presence of significant gas reserves; however, in the absence of either a domestic market or export options such as LNG, commercial prospects were deemed questionable, and the interest was divested in 2011 and 2012.

Yemen

CC Oil & Gas had interests in four blocks in Yemen, from 1986 through license expiry in 2011. The most prominent of these was Block 14 - Masila, which was Yemen's largest producing block, composed of multiple oil fields. CC Oil & Gas owned a 10% interest in the block, with Occidental Petroleum and Nexen owning the remaining 90%. In addition to being an equity investor and partner, CC Oil & Gas, through its affiliation with CCC, was the designated construction contractor and provided geotechnical support for new production wells.

At its peak, production reached 235,000 BOPD, and by the time CC Oil & Gas’ involvement ceased with the expiry of the license in December 2011, the block had produced over 1.1 billion barrels.

In addition to Block 14, CC Oil & Gas also held operated interests in three other blocks. As operator, CC Oil & Gas drilled a total of nine wells in Blocks 33, 45, and 49.

Block 33 Al Furt – 76% interest, as operator, partner with Geopetrol
Block 45 South Al Furt – 76% interest, as operator, partner with Geopetrol
Block 49 South East Al Maber – 25% interest, initially as operator, later as an investor, partner with Kuwait Energy Company

Operations