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Track Record

The present CEO of DWC E & P, in partnership with other investors, formed Shebah Exploration and Production Company Limited in 2003

Shebah E&P Company Ltd (SEPCOL) operates the Ukpokiti oil field on OML 108 in shallow water Nigeria.

The field produces oil from water depths of 27 m, with production delivered to a leased FPSO.

Partners in the field are Express Petroleum and Camac, both of which are Nigerian companies carried by SEPCOL.

Shebah’s 40% share of the field was purchased from ConocoPhillips in May 2004.

Production from Ukpokiti at that time was around 1,900 b/d.

The first phase redevelopment plan involved re-activation of an shut-in development well that increased production to around 5,000 b/d.

Personnel

Management and technical staff have considerable major-company experience in West Africa’s oil business from exploration and production to oil marketing. Our strategic partnership with Africa Capital Alliance brings a strong balance sheet to our operations and our sister company DWC Drilling Limited brings availability of rigs and turnkey drilling and project management skills to the table.

Deal Making

Successfully acquired a non-core asset from a major oil company.

Technical and Operating Competence

More than doubled production from that asset through the first-phase redevelopment within six months of acquisition. There has been zero loss of production due to community crisis since inception. Demonstrated ability to operate as an indigenous oil and gas company at the same level of safety and environmental stewardship as any IOC.

Financial Strength

Fully repaid the debt portion of the financing of the purchase of OML 108 within a year.

West African Focus

Strong African identity and West African focus in its growth plans.

DWC Exploration and Production Company Limited

(DWC E & P)

Company Profile

Our Core Values

  • Human Capital Development
  • Integrity and Ethics
  • Health, Safety and Environmental stewardship
  • Management of stakeholder relationships
  • Equitably reward and compensate productivity

Company Details

Our Mission

DWC E & P - Corporate Profile and Strategy

We will achieve our value growth objective by focusing on acquiring proven assets and integrating downstream opportunities.

  • ADDRESS: 18 Amodu Tijani Street, Off Sanusi Fafunwa Street, Victoria Island, Lagos, Nigeria.
  • TEL: +234-1-4626826, +234 803 403 3938
  • FAX: 234-1-7914965
  • E-MAIL: jattueyi@dwcexploration.com

Our Vision

To become the most valuable integrated African Energy Company measured by net present value by year end 2018.

Our Strategy

DWC Exploration & Production Coy Ltd (DWC E & P) is a duly incorporated Nigerian company with principals who have vast experience working for multinational oil and gas companies in and outside Africa. It is the outcome of a strategic partnership between the founding Managing Director of Shebah Exploration and Production Company Limited and two (2) British Virgin Islands energy funds--Havilah (BVI) Limited and Beulah Investment Holdings (BVI) Ltd--- focussed on African oil and gas assets with proven reserves . Its sister company DWC Drilling Limited was incorporated in November 2004 to provide Land Drilling Rigs and related Consulting Services in Nigeria and has become the dominant land rig & services provider in Nigeria.

The CEO of DWC E & P with other strategic shareholders/ investors started Shebah E&P Company Ltd., (SEPCOL) in 2003.

SEPCOL operated the Ukpokiti offshore field in Shallow water Nigeria, which was acquired from ConocoPhillips in May 2003 and extracted an additional 3MM barrels from the field over and above Conoco’s end of field life scenario.

Having proven the ability to operate as a small size indigenous exploration and production company, the stakeholders in DWC E & P have a vision of building a sustainable indigenous integrated energy company that will be quoted on the Nigerian Stock Exchange.

We will bring oil and gas assets in West Africa, with at least 10MM barrels in proven reserves, to production at the lowest cost/barrel through low corporate overhead, effective management of stakeholder relationships and outsourcing of operational activities.

Sustainable Development Strategy

Sustainable Development

  • We will contribute to improved health, education and economic conditions everywhere we do business.
  • This means we will, in collaboration with the local communities where we operate, invest in health related infrastructure, education of the youths and economic empowerment of women

A NEW PERSPECTIVE

Sustainable companies measure their performance against a triple bottom-line—economic, social and environmental stewardship.

A well structured social and environmental program that can be sustained will create a competitive advantage for any company to improve its economic performance.

Our Competitive Advantage

  • In West Africa, many discoveries in the 10-100 MM barrels proven reserves range are un-produced because:
  • Mergers has made such small fields uneconomic for majors
  • With low corporate overheads and outsourced operational contracts, our cost/barrel will be at most a third of that of any major’s
  • Community unrest / kidnappings has made onshore discoveries difficult for majors to produce.
  • We will leverage our strong stakeholder relationship to ensure zero shut downs due to community unrest / kidnappings.
  • Majors maybe wary of farming out un-produced discoveries to indigenous companies for fear of potential backlash due to poor safety / environmental performance by indigenous companies.
  • Our Core Values and outstanding track record of safety and sound environmental stewardship makes us the indigenous partner of choice

Sustainable Development

HISTORICAL

Oil and Gas companies have historically handled community relations as an expense necessary to keep operations going.

Most of the expenditures today are not sustainable / sustained—unmanned/unused clinics, unfilled schools, abandoned boreholes etc.

There is a direct relationship between this approach and the restiveness in the Niger Delta.

Our People

Chief Arthur C.I. Mbanefo CFR – Chairman

Chief Mbanefo (Odu 111 of Onitsha), former President of the Institute of Chartered Accountants of Nigeria and Association of Chartered Accounting Bodies in West Africa is also former Ambassador and Permanent Representative of Nigeria to the United Nations in New York.

An accomplished statesman, businessman, philanthropist and mentor to many, he is (or has been) on the board of many blue chip companies ranging from CitiBank to NNPC.

Our People

Mr Joe Attueyi, CEO

Mr. Attueyi, an Alumnus of Harvard Business School’s GMP program, JMW Europe’s Leaders of The Future program and Fellow of the Institute of Chartered Accountants of Nigeria , was until December 2002, General Manager (Production)/ Director of Conoco Energy Nigeria Limited and a member of Conoco’s Nigeria Business Unit leadership team. His career in the oil and gas industry has spanned finance, facilities and services, materials and logistics and production and exploration asset management. He worked for Conoco for 10 years in different countries and prior to that had worked for NNPC and Ashland Oil (Nigeria) in various line and supervisory financial and cost accounting positions.

Dr Ravi Arunkumar – Chief Operations Officer (COO)

Dr. Arunkumar, Columbia University trained, has a PhD in petroleum engineering and over 40 years of petroleum engineering, asset management and operations experience with various International energy companies including Hardy Oil, ONGC and senior technical consulting roles with Schlumberger.

Our People

Daniel Ndefo, Geoscience Advisor

Mr Daniel Ndefo, Fellow of The Nigerian Association of Petroleum Geologists (NAPE), Fellow of the Nigerian Mining and Geosciences Society, former President of NAPE and former Chairman of OPTS Deepwater Operators Section was until March 2001 General Manager Geosciences Division of TotalFina Elf (now TOTAL). Mr Ndefo who worked for ELF in Nigeria and France and has since 2001 been involved as a consultant/adviser to many indigenous and some multinational oil and gas companies in Exploration, Reservoir management and Production operations.

Previous Marginal Field Experience

Key Strengths

Business Development

  • DWC and its partners have focused on seeking upstream assets with proven reserves to invest in with plans of integrating it into our proposed refinery project.
  • Successfully invested in First Hydrocarbon Nigeria Ltd's acquisition of SHELL's interest in OML 26.
  • Was unsuccessful in the bidding process to acquire ConocoPhillips Assets in Nigeria and Chevron's OML 52, 53 and 55.
  • Currently in the bid process for acquiring SHELL's interest in OML 18
  • Project promoter of the Proposed REHOBOTH REFINERY in Kolo Creek, YENAGOA, BAYELSA STATE. License to establish granted, Land acquired, EIA process completed and all permits received, detailed Front End Engineering Design in progress.
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