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Singapore Petroleum Company Limited (“SPC” or “the Company”) announced today the official opening of its SPC E&P (China) Pte. Ltd., Shekou branch office in China. The Branch Office was established to operate and manage SPC’s upstream assets in China.
SPC holds interests in three acreages in China, namely Block 26/18 in the Pearl River Mouth Basin (as operator), and Blocks 04/36 and 05/36 in Bohai Bay. SPC’s 100% participating interest in Block 26/18 is the Company’s first operatorship since venturing into the exploration and production (“E&P”) sector in 2000. Reinforcing this portfolio is SPC’s oil production of 4,300 barrels per day from its Bohai Bay assets. Blocks 04/36 and 05/36 are currently SPC’s largest producing asset.
Commenting on the branch office, SPC CEO, Mr Koh Ban Heng said, “Our presence in Shekou will strengthen our alliance with strategic partners in China. This is in-line with SPC’s long-term strategy to grow its business through E&P activities and tap the vast oil and gas potential of China”.
SPC’s E&P department is headed by Vice-President (E&P) Mr Brian Boslaugh, a geophysicist by training with almost 30 years experience in oil and gas exploration, appraisal and project management. The SPC Group has a competent team of experienced geologists, geophysicists, exploration managers, reservoir engineers and commercial analysts.