PDOC

From Wikipedia, the free encyclopedia

The Petrodar Operating Company is a non-profit petroleum exploration and production company operating in southeast Sudan. The company is registered in the British Virgin Islands and its headquarters are in Khartoum; it maintains a branch office in Adar. It was incorporated in 2001 and its name is abbreviated to PDOC.

Company Profile

1. Name The name of the company is "Petrodar Operating Company Ltd".

2. Legal Status Petrodar is an International Business Company, incorporated under the laws of the British Virgin Islands on 31st October 2001.

3. Objectives 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.

4. Shareholders Petrodar is a consortium composed of the following companies:

China National Petroleum Corporation (CNPC), a Chinese national company, incorporated in the British Virgin Islands and has a registered branch in the Sudan. It owns 41% of the shares of Petrodar.
Petroliam Nasional Berhad (PETRONAS), a national Malaysian oil company, incorporated in Malaysia and holds 40% of the shares of Petrodar.
Sudan Petroleum Company (SUDAPET), a company owned by the Government of Sudan and holds 8% of the shares of Petrodar.
China Petroleum & Chemical Corporation (SINOPEC), a private company, incorporated in China and holds 6% of the shares of Petrodar.
Al Thani Corporation, a private company, incorporated in the United Arab Emirates and owns 5% of the shares of Petrodar.

5. Financial Resources Petrodar is a non-profit making company. It depends on its financial resources upon monthly cash calls paid by its shareholders to meet the company's financial obligations during each month.

6. Management Petrodar is managed by its Board of Directors and Management Committee (MC) members. The MC is composed of five members: a President, a Vice President and three General Managers; one for Finance & Services, the second is for Exploration & Production and the third is for Pipeline.

7. Main Office and Branches Petrodar has its head office in Khartoum and its operation base is in Adar and has no branches outside the Sudan.