Emerald Energy Resources Limited was designated operator by the government and awarded 55% working interest in OPL 229 (Now OML 141) during the Year 2000 Nigerian Oil and Gas Licensing Rounds, with Amni International Petroleum Development Company Ltd (Amni) awarded a 45% working interest as our syndicated partner.
The 1400 square kilometer OPL 229 block (Now OML 141) is shown below.
Emerald is organized into business units responsible for exploration, development and production activities within their geographic block areas. Each business unit is comprised of a technical staff of geologists, geophysicists, petrophysicists, landmen, and engineers as well as support staff. Our current business unit is OPL 229 (Now OML 141). We also have a business unit for the Gas Value Chain, who are engaged in the contract arrangements and engineering for a large processing facility to be built in the southeastern part of Nigeria.
Emerald Energy Resources Limited has the assets, technology, cost structure, people and corporate culture to create significant value for our shareholders.
Encouraged by the government's new indigenous programme, the company was incorporated in 1997 under the Laws and Acts of the Federal Republic of Nigeria. The Emerald team has a broad background in conducting petroleum and natural gas field development, production and life cycle asset management in Nigeria and in many other parts of the world.
Emerald's officers and directors are well known and respected in the oil and gas industry in Nigeria and worldwide. Brief resumes of Emerald's key principals can be viewed in the company profile.
Emerald's growth into a significant operator in Nigeria is predicated upon close co-operation with major industry players to the benefit of all stakeholders. With its strong foreign technology asset base, and talented and dedicated management team, Emerald is committed to building solid shareholder value through strategic alliances and smart partnerships in the exploration, development, production and marketing of crude oil and natural gas. The financing of the company projects in Nigeria depends to a great extent, on local capital, and to lesser extent, on foreign equity capital.
Through private placement programs, the company offers the Nigerian entrepreneurs the opportunity to participate in the country's oil and gas industry and to reap the attendant profits.