The Oudeh Petroleum Company, OPC is located in the North Eastern area of Syria. Production from the block commenced in 1982 by the Syrian Petroleum Company, SPC. The block was operated by SPC from production onset to July 2003. Dublin Petroleum International (Syria) Ltd. (“Dublin”), started operating the Oudeh Block under a Production Sharing Agreement, PSA, ratified by the Syrian government on July 19th 2003. Under this agreement Dublin had five years to appraise the Oudeh Block and conduct field trials, decide on whether to continue with the contract and enter into a Joint Operating Company, JOC, and, if decided prepare a Field development Plan in conjunction with the JOC for approval by SPC. When approved, the JOC has the license to develop and operate the Oudeh Block until July 2023 with an optional five year extension. During the development phase Dublin shall supply all funds necessary for operations.
On the completion of the five year appraisal period Dublin elected to enter the development phase and informed SPC. The joint operating company named Oudeh Petroleum Company, OPC, was formed to operate the Oudeh Field for the remainder of the contract.
In December 2008 SINOPEC subsidiary, Sinopec International Petroleum Exploration and Production Corporation (SIPC) purchased 100% of Dublin Petroleum International (Syria) Ltd and as a result replaced Dublin with SIPC and become the joint partner with SPC.
SINOPEC ranks 9th among world energy & petrochemical companies in terms of sale revenue and is the largest energy and petrochemical company in China with activities in E&P, Refining, Chemical and Product Marketing. SINOPEC operates 176 oil and gas fields, which produced in 2007 approximately 821,000 bopd of oil and 770 mmscf/d of gas.
SIPC is a fully-owned subsidiary of SINOPEC Group and is responsible for all overseas investments and E&P project operations and management. SIPC has more than 41 petroleum projects worldwide, and is the operator on over 65% of its projects.
Numerous studies, evaluations and work programs were conducted during the five year appraisal period by Dublin. The work completed included 3D seismic coverage over the entire block, drilling many appraisal and test wells, testing numerous well stimulation techniques, geological and fluid analysis studies, Enhanced Oil Recovery (”EOR”) screening studies, static geological and dynamic reservoir modeling studies, thermal sector modeling studies, microbial treatments and thermal field trial pilot projects. Objectives of the wells drilled were to appraise the structures in various areas of the block, prove productivity and reserves within the complex fractured carbonate system, determine the optimal horizontal well length, evaluate thermal applications by means of cyclic steam injection (“CSS”), and maintain Base Crude Production (“BCP”).
The objectives of the PSA agreement are to increase oil recovery and crude oil production by applying technically and economically feasible EOR methods or any other methods. With the positive thermal field trials results during the appraisal phases, most of the appraisal wells drilled were thermally equipped and funds were dedicated for future thermal operations.
The Tishrine Block is also located in the North Eastern area of Syria approximately 120km South of Oudeh Block. Production from the block commenced in 1978 by the Syrian Petroleum Company, SPC. The block was operated by SPC from production onset to July 2003. Dublin Petroleum International (Syria) Ltd. (“Dublin”), started operating the Tishrine Block under a Production Sharing Agreement, PSA, ratified by the Syrian government on November 30th 2004. Under this agreement Dublin had five years to appraise the Tishrine and Sheikh Mansour Blocks and conduct field trials, decide on whether to continue with the contract and enter into a Joint Operating Company, JOC, and, if decided prepare a Field development Plan in conjunction with the JOC for approval by SPC. When approved, the JOC has the license to develop and operate the Tishrine and Sheikh Mansour Blocks until July 2023 with an optional five year extension. During the development phase Dublin shall supply all funds necessary for operations.
As with Oudeh Block, at the end of the five year appraisal period Dublin elected to enter the development phase and informed SPC.
The joint operating company named Tishrine Operating Company (TOC) was formed, however it was agreed with all concerned parties that Oudeh Operating Company, (OPC), would operate the both Oudeh and Tishrine Fields for the remainder of the Contract.
In December 2008 SINOPEC subsidiary, Sinopec International Petroleum Exploration and Production Corporation (SIPC) purchased 100% of Dublin Petroleum International (Syria) Ltd and as a result replaced Dublin with SIPC and become the joint partner with SPC.
During 2009 & 2010 SIPC retained the majority of Dublin employees has engaged in a process of integration and knowledge transfer, particularly from the G&G group previously employed by Dublin. During this transition period in conjunction with GPC, SIPC has also progressed in the restructuring of OPC to take the Company forward for the remainder of the operating period.
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