Sudan’s Petrodar first oil tanker due 2d week of January – Exec

Dec 7, 2005 (LONDON) — The first oil tanker from Sudan’s Petrodar Operating Company Ltd, majority-owned by Chinese and Malaysian companies, is expected to be loaded in the second week of January, the chief executive of one of the companies operating the project said Wednesday.

Speaking to a group of reporters, Roger Tucker, CEO of African Arabian Petroleum Ltd, (AAP), said the joint-venture, which has rights to blocks 3 and 7 in South-East Sudan, was expected to produce 250,000 barrels a day by the end of 2006.

AAP, the oil and gas unit of Dubai-based Thani Investments, owns 5% in the key Sudanese project and is one of its joint-operators. China National Petroleum Corp. (CNPC.YY) owns 41% in the venture, Malaysia’s Petroliam Nasional Berhad (PET.YY), 40%, Sudan-owned Sudapet Ltd., 8%, and China Petroleum & Chemical Corp. (0386.HK), 6%.

Production from the wells already started back in August but Petrodar still needs the rest of the project – which includes a pipeline and tankers – to be fully operationnal.

The peak production, to be reached in 2007, is expected to be 350,000 barrels a day, he added.

Petrodar is an International Business Company, incorporated under the laws of the British Virgin Islands on 31st October 2001. The main objective of Petrodar is to explore, develop and produce oil and gas in Blocks 3 and 7. These blocks are situated in the south east of Sudan, between longitude 31 and 34 and latitude 8 and 10 with a total area of about 72,000 Km2.

(Dow Jones/ST)