EXPLORATION AND PRODUCTION
It is projected that oil and gas would continue playing a major role in meeting the world’s energy needs and would account for nearly half the of the primary energy mix by 2040 according tothe International Energy Agency [IEA];
Seven Oceans is committed to provide clean, reliable and affordable energy by harnessing its expertise and innovative capabilities to address climate change;
Seven Oceans climate change risk management strategy is centered a round the development of a clean electricity generation portfolio for commercial and industrial users, affordable and reliable energy solutions for the transportation and industrial users, managing the impact of our activities on the environment and engaging extensively on climate change policy;
Our firm's activies would further support Government of Nigeria goal of increasing crude oil production from its current 2.2 million bpd production level to 3 million bpd, achieve 45 billion barrels oil reserves and increase domestic gas consumption to 5 billion cubic feet per day.
Seven Oceans leadership is striving to improving energy access, efficiency, mitigating emissions, job creation and sustainability through its activities in the upstream oil and gas sector such as Production Enhancement of stranded, suboptimal and non-performing oil and gas assets through the provision of financial and technical services as an operator; investing in distressed assets; and acquisition of oil and gas assets across politically stable countries in Africa;
Seven Oceans strategy is based on value-added management and ownership to optimal exits creating capital appreciation opportunities through repositioning, restructuring, development and intensive management underpinned by constant innovation to improve safety, enhance production techniques and reduce our environmental impact while also cutting costs
REFINING AND PETROCHEMICALS
We live in world dependent on refined petroleum products and petrochemicals. From the cars we drive to the food on our plates, the products and material we derive are fundamental to many aspect of modern society. Plastic is the fastest growing group of bulk materials in the world, and synthetic nitrogen fertilizers underpin nearly half of the world’s food production;
Despite having a nameplate capacity of 445,000 bpd that should meet domestic demand, Nigeria still imports over 80% of refined products to meet its current needs. Unlike the production of crude, the production of refined products has been suboptimal, and Nigeria has consistently struggled to keep its refineries functioning optimally. The outlook for refining has been tainted with uncertainty due to the adverse effects of subsidies, poor maintenance, general operational failure and inconsistent supply of feedstock;
As a case in point, Nigeria's per capita refining capacity is 0.002 bpd per capita, low even by Africa standards. Libya by comparison is 0.06 bpd per capita, and South Africa 0.01 bpd per capita. However, recent events such as advancement of the Nigerian National Petroleum Policy and the sustained depression in crude oil prices are ushering in fresh waves of optimism for the sector and we predict a paradigm shift from a “net imports” to “net exports” structure. This shift will see Nigeria become a net exporter of refined products and the refining hub of West Africa by the start of the next decade;
Seven oceans refining and petrochemical space is centered around the development of its planned 20,000 bpd modular refinery in Brass Local Government of Nigeria, Gas processing facilities to meet domestic demand and Plastic Recycling facilities for the processing of post consumer Polyethylene Terephthalate [PET];
Seven Oceans alternative future is one in which refined petroleum products, plastics and fertilizers are produced more sustainably.
TRADING AND RETAIL
The strategy is to leverage the full potential of crude oil within the Nigerian economy whilst contributing to exports to other West African countries; a strategy that will require“ striking the balance between domestic and export” with a focus to provide refined products for transportation; refined products for electricity generation; and selective high value export.
Seven Oceans currently operates an ultra mega gas station in Bayelsa State under the Nigerian National Petroleum Corporation [NNPC] brand with plans to own and operate a network of >10 retail stations and trade >500,000 metric tonnes per annum of refined products by 2025.
A growing number of consumers also want to produce their own energy and as a result consumer expectations are changing along with their relationship to energy. Seven Oceans is sensitive to consumer’s changing needs and actively seeks for innovative ways to satisfy them by reconciling economic and social development with climate protection through its focus on improving energy access, efficiency, sustainability, job creation, emission mitigation and outreach to our host communities and external stakeholders.
Seven Oceans has idenified the changing consumer habits in the age of digitalization and the sharing economy with customers conducting more and more transactions online and attaching greater importance to the utility of a product rather than to the product itself.
The rising domestic demand for refined products and need to ensure avail ability, particularly for use by the budding transportation
and electricity power sector, eventually led to Seven Oceans activities in the downstream oil and gas sector through the trading and retailing of refined petroleum products.
Our trading activities relies on a range of skills, including arbitrage that involves redirecting shipments in response to opportunities created by local demand and prices while managing shipping, price, currency and interest rate risk.
LOGISTICS AND SERVICES
Seven Oceans leverages modern information and communication technology tools, information visibility across its supply chain and operations research technique to ensure Just-In-Time delivery, and inventory management;
Seven Oceans activities in the oil and gas logistics sector spans the transportantion of crude oil, refined products and natural gas from production areas to major consumer hubs; transportation of project equipment and machineries for exploration and production and provision of related support services to the oil and gas industry ensuring that cargo is shipped in the most timely, cost-effective way and, naturally, under optimal safety conditions;
Seven Oceans through its strategic partners operates and manages a fleet of Offshore Support Vessels [Platform Supply Vessels, Anchor Handling Tug Supply Vessel, Crew Change, Houseboat and Security Vessels] in support of oil and gas exploration and production activities as well as provision of security services in collaboration with the Nigerian Security Agencies. Seven Oceans provides critical oil and gas infrastructure security services such as the pipeline surveillance contract for Nembe Creek Trunk Line, Vessel escort and Offshore Installations protection;
Other services provided includes but not limited to the maintenance, repair and overhaul of high-pressure vessels, tank cleaning, rotating equipment, crude oil, natural gas and product transmission pipelines. Over the years, the company has developed in-house capabilities in project development and structuring, financial modeling and advisory services that it now offers to third parties;
The development of Seven Oceans clean and renewable energy portfolio [solar photovoltaic; opportunistic gas and hydro-power] for commercial and industrial users and clusters is domiciled within the logistics and services business unit of the firm.