Sphere Petroleum QSC is a rapidly expanding oil and gas exploration Company with a focus on West and North Africa and the Middle East.
Sphere Petroleum QSC was originally formed as a subsidiary of Sphere Investments Ltd , an Australian company quoted on the Australian Stock Exchange. In 2007, it was spun out of Sphere Investments Ltd and established as an independent, private company in State of Qatar. Major shareholders include Qatari and Saudi Arabian interests, as well as international institutions and individuals, including board members.
Strategy
The Company selects areas that meet its stringent evaluation
criteria of strong exploration potential, acceptable political risk and
reasonable commercial terms.
The company is seeking to assemble acreage in a variety of plays, both onshore and offshore
with a balance of risk profiles between high and low and is also seeking
opportunities for the purchase of production, for opportunities to participate
in appraisal and redevelopment projects as well as exploration to ensure a
balanced portfolio
Sphere Petroleum QSC ideally seeks to obtain exploration acreage by direct
application or bidding on a 100% owned basis, intending to bring in partners at
a later stage. However, where appropriate, the company will seek partners for
bid rounds, participation in evaluation and bidding groups. It also is planned
to obtain acreage by farmin, where high quality opportunities occur and where
terms are commercially reasonable.
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