Hmm, a series of press releases related to the above. And I really want to follow in their footsteps:
Barclays natural resource investments (BNRI), a division of Barclays Capital, has invested in a Southeast Asia-focused oil and gas development company Nio Petroleum.
Nio Petroleum is an oil and gas development and production company established in 2009, with a primary focus on offshore assets in the Asia-Pacific region, particularly Malaysia, Thailand, Vietnam, Indonesia and Australia. It seeks out undeveloped discoveries, marginal fields and late-life assets in Southeast Asia, which it will add value to through the innovative use of existing and new technologies and commercial know-how, Barclays Capital and Nio Petroleum said in a joint press release yesterday.
Nio Petroleum is founded and managed by Richard Hall and Rory Edwards, a duo with a track record in oil and gas development, derived from working with national and independent oil and service companies over the past 25 years. Their experience includes schemes in the North Sea and offshore Southeast Asia, which have enabled the monetisation of small fields or extended the life of mature fields.
…Nio Petroleum Limited (Nio) is working in the Asia Pacific region.
Nio’s primary focus is offshore assets in the Asia Pacific region, particularly Malaysia, Thailand, Vietnam, Indonesia and Australia. In May 2010, Nio acquired Blocks SB307 and SB308 offshore Sabah in Malaysia in conjunction with Lundin Petroleum and PETRONAS Carigali.
PETRONAS AWARDS TWO EXPLORATION BLOCKS TO LUNDIN PETROLEUM, NIO PETROLEUM AND PETRONAS CARIGALI
PETRONAS today awarded Blocks SB307 and SB308 offshore Sabah under a single Production Sharing Contract (PSC) to a partnership comprising Lundin Malaysia B.V., Nio Petroleum Ltd., and PETRONAS Carigali Sdn Bhd.
Blocks SB307 and SB308 measure approximately 6,230 sq km and is located in water depths of up to 70 metres. Both blocks have been explored since 1965 and have led to the discovery of the producing Barton, South Furious and St. Joseph fields, currently operated by Sabah Shell Petroleum Company Ltd under a different PSC.
Nio Petroleum Limited offers oil and gas development and production services in Malaysia, Thailand, Vietnam, Indonesia, and Australia. Nio Petroleum Limited was incorporated in 2009 and is based in London, United Kingdom.
Nio Petroleum (Sabah), set up by two former managers at oil services and production firm Petrofac, is being bought by EnQuest, based in Aberdeen.
The firm was set up in 2010 by Richard Hall, who previously worked with Norwich-based Acteon before moving to Petrofac, and Rory Edwards, also previously at Petrofac.
It said its niche was opening up dormant discoveries and redeveloping mature, previously developed fields and was working in partnership with Malaysian state firm Petronas and Sweden’s Lundin on two blocks of the coast of Sabah, Borneo.
As of November 9, 2012, Nio Petroleum (Sabah) Limited operates as a subsidiary of EnQuest PLC.