Wednesday, 19 June 2019

Oil & Gas News

Launch of AziPac Ltd., a New Asia Pacific Oil & Gas Exploration Company

AziPac Ltd. is a newly established exploration and production company focused on exploring for oil and gas in the maritime basins offshore the Asia Pacific region and the Bay of Bengal. AziPac is backed by Seacrest Capital Group, the global energy investor. AziPac will be headquartered in Singapore.

Portfolio
At launch, AziPac has secured a number of exploration licenses in the Southeast Asian offshore and Bay of Bengal regions. Further details of the opening portfolio of licenses will be made public following final regulatory approval in each of the relevant countries. AziPac has built up a significant pipeline of attractive exploration opportunities throughout the region.

Management & Technical Resources
AziPac joins a growing portfolio of regional companies established by the Azimuth Group ("Azimuth") and backed by Seacrest Capital Group, the global energy investor. Azimuth has exploration assets offshore Asia-Pacific, Ireland, Norway, the United Kingdom and Namibia. Azimuth has a team of thirty oil industry professionals with a proven track record of finding significant hydrocarbons offshore, including the Asia Pacific region. The team has been involved in over 100 oil and gas discoveries globally. AziPac, like the other Azimuth exploration companies, will utilize this shared resource of world-class professionals, as well as leading edge seismic data, to optimize exploration opportunities and de-risk assets in the Asia-Pacific region.

Azimuth Group is managed and backed by Seacrest Capital Group, a leading global energy investor.

David Sturt, Director of AziPac, Commented:
'The offshore Asia Pacific and Bay of Bengal regions are experiencing a resurgence in exploration for new oil and gas reserves. This is driven by exciting recent discoveries, new licensing rounds, new company entrants and, importantly, the potential for new technologies to be brought to bear in new and mature exploration areas. AziPac has been established with an opening portfolio of world-class exploration assets and is well supported by the Azimuth Group which includes professionals who have a proven ability to discover significant hydrocarbons in the region. We aim to rapidly grow the company, with a focus on technology and innovative exploration thinking to unlock value in traditional and new oil and gas basins offshore Asia."

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We aim to keep you updated weekly with relevant information concerning the Offshore Energy Sector.

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