In 2012, Heritage oil formed a joint venture in Nigeria called Shoreline to purchase a 45% stake in OML 30, an onshore oil block formerly owned by Shell PLC. In 2012/2013, Heritage made a strategic investment (app. Shoreline Natural Resources Limited Oil & Energy Lagos, Lagos HERITAGE OILFIELD SERVICES HERITAGE OILFIELD SERVICES ... Heritage Oil Corporation | 67 followers on LinkedIn. The majority 55% stake is owned by the Nigerian National Petroleum Corporation. Mr. Kola Karim, Chief Executive Officer of Shoreline Energy International - “This is a major development for Shoreline, taking us into the upstream oil and gas sector at such a significant time when the Nigerian government is promoting active participation from indigenous companies. Upstream exploration company Heritage Oil reported "great progress" in the third quarter with revenues up more than 2000% on the same period last year. Shoreline is a joint venture between Shoreline Power, a private Nigerian energy and infrastructure company and Heritage Oil Plc, an. Heritage Energy Operational Services Limited (HEOSL) HEOSL is the Operator of OML-30 on behalf of the joint ventures between Nigeria Petroleum Development Company (a subsidiary of Nigeria Petroleum Corporation) and Shoreline Natural Resources Limited. Heritage Oil to buy Nigeria assets in $850 mln deal ... Heritage and its Nigerian partner, Shoreline Power, have agreed to buy a 45 percent stake in OML 30 from oil … Shoreline Energy Resources is the special purpose vehicle(SPV) with which Shoreline Power, a Nigerian energy and infrastructure company, and Heritage Oil Plc, the London listed independent, are about to acquire the 45% equity held by Shell, ENI and TOTAL in the Oil … The OML 30 was sold to Heritage Oil, alongside its partner Shoreline Energy limited, a subsidiary of Shoreline Power. In July 2012 Heritage spent $800 million buying into Nigeria via a reverse takeover accompanied by a $370 million rights issue forming a joint venture with local Nigerian company Shoreline Energy to buy the 45% stake in the block owned by Shell, Total and Eni. Shoreline is a joint venture between Shoreline Power, a leading private Nigerian energy and infrastructure company and Heritage Oil Plc, an independent upstream exploration and production company listed on both the London and Toronto stock exchanges. The Profitability of African Oil and Gas Discovery. shoreline types based on percent cover and oil band width: very light, light, moderate, and heavy. Acquired an interest in OML 30, Nigeria, through Shoreline Natural Resources Limited ("Shoreline"), whose ownership interests are held by Heritage Oil SNR (Nigeria B.V.), a wholly owned subsidiary of Heritage and a local Nigerian partner, Shoreline Power Company ("Shoreline Power") The JV partners and equity holders are NPDC and Shoreline Natural Resources, while Heritage Energy Operational Services Ltd are the operators, in a 3rd party operating agreement with the JV partners. Ever since Heritage Oil sold its ‘entire issued and to be issued ordinary share capital of Heritage (other than the ‘Retained Shares and the Excluded Shares’) to Energy Investments Global Ltd., a wholly owned subsidiary of Al Mirqab Capital SPC, there have been rumours that Shoreline Power might as well be bought over by the same company. 20%) in PetroFrontier Corp. and exploration of Australia's highly prospective Northern Territory situated in Georgina Basin. About us Shoreline Natural Resources was incorporated on 10th December 2010. Most of America's offshore areas are off-limits to oil and natural gas drilling, despite years of tight energy supplies and high prices for oil and gas. Heritage Oil reported that in line with expectations, Shoreline Power Company Ltd. has exercised its option to acquire a 30% economic interest in Shoreline Natural Resources Ltd. Shoreline owns a 45% interest in Nigeria's OML 30. The SAT analyzed the data cooperatively, although the Trustees and the Responsible Company profile page for Heritage Oil Ltd including stock price, company news, press releases, executives, board members, and contact information In light of news suggesting that the country wants companies to return, this week on the Tony Buckingham blog, I ask whether exploration firms will return to Somalia.. Heritage had tried on several occasions in recent years to gain a foothold in Nigeria, to no avail. The area of each injury category was estimated using methods described in the report Bouchard B-120 Oil Spill Shoreline Injury Assessment: Exposure Characterization. Africa Energy Intelligence already revealed last November (issue No 661) that Heritage Oil, cash-rich after the sale of its stakes in Uganda to Tullow Oil, was interested in the stakes of Shell, ENI and Total on OML 30 in the Niger Delta. Tony Buckingham, the founder and CEO of Heritage Oil joined forces with Kola Karim of Shoreline Energy to purchase the OML 30. Heritage landed in Nigeria in November 2012 on the completion of the acquisition of a major interest in OML 30 through its interest in Shoreline Natural Resources Ltd. Shoreline acquired a 45% interest in OML 30 for cash consideration of $850 million, with NPDC holding the … The operator of OML 30, Heritage Energy Operational Services Limited, acting on behalf of the joint venture partners, NPDC and Shoreline Natural … Shoreline Natural Resources Limited, a special purpose private Nigerian company formed between a subsidiary of Heritage Oil Plc, listed in the United Kingdom, and a local Nigerian partner, Shoreline Power Company Limited, has successfully completed the refinancing of its existing bridge loan facility for Nigerian Oil Mining Lease (OML) 30. Energy. It has formed a joint venture with local company Shoreline Energy to buy the 45% stake in the block owned by Shell, Total and Eni. Heritage Oil has agreed a £924m cash takeover offer from a Qatari investment vehicle owned by the gas-rich Gulf state’s former prime minister. Updated . 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