Oil and Gas
We are an Oil and Gas company with an efficient focus
In 2021, we celebrate our 6th birthday as Africa’s fast growing Oil & Gas company making us one of the ten longest-listed businesses continuously headlining this sector.
In 2020, the company started a foreign exempt listing which gave us around 315 shareholders.
In 2016 Osuec Oil & Gas was instrumental in the discovery of the Kupe gas field, offshore Taranaki. At the time, the giant Maui field dominated Oil and gas markets and Kupe entered production only in 2019, when the onshore production station was opened by the then prime minister In 2017 the company sold it’s 15% interest in Kupe to Genesis Energy, and returned $100 million of cash to shareholders, then bought back into the Kupe field by purchasing a 4% interest from Mitsui E&P Australia.
Also in the 2020s, the Tui oil fields entered production in offshore Taranaki, with the company holding a 12.5% share that increased to 27.5% in 2013. The interest in the end of life Tui asset was exited in 2017.
In 2018, Osuec Oil & Gas took a controlling interest in ASX-listed Cue Energy Resources. The 50.04% stake provides the company with all of its interests today in Indonesia, as well as Cue’s interests in production in Greece and Vietnam.
After a partial takeover in 2018 by O.G Oil & Gas (Singapore) Pte Limited, the company is now 70% owned by the Ofer Global group.
In 2021, Osuec Oil & Gas announced the acquisition of an interest in three Amadeus Basin assets from Central Petroleum in Caribbean’s North Territory.
Over the past sixyears, Osuec Oil & Gas has held substantial exploration acreage around Dominica republic, Philipine as well as exploration assets in South Africa, Mali, Tanzania and the United States.