Sumatec Resources Berhad
Suite 22.02, Level 22
The Garden North Tower
Mid Valley City
Lingkaran Syed Putra
59200 Kuala Lumpur
Tel: +603 2283 1368
sumatec@sumatec.com
Sumatec was established in 1979 as a service provider in the downstream sector of the oil and gas industry. The Company is currently going through a business re-structuring program which will see it entering the upstream sector via a joint investment agreement with Markmore Energy (Labuan) Limited and CaspiOilGas LLP to develop the Rakushechnoye Oil and Gas Field in West Kazakhstan.
In addition to developing the Rakushechnoye Field, Sumatec will continue to look for opportunities to acquire and develop new and under performing fields. Their target assets will be mainly onshore, as this reduces the capital cost of infrastructure required.
Sumatec Resources Berhad is listed on the Main Market of Bursa Malaysia.
History
Since inception, Sumatec's business activities had expanded from South East Asia to Central Asia and African countries such as Sudan, Azerbaijan, Cameroon, Cambodia, Maldives, Singapore and Vietnam.
In 2011, SUMATEC teamed up with Markmore Energy (Labuan) Ltd. which offered the company an investment production sharing agreement at a gas condensate field near the Caspian Sea. A Joint Investment Agreement was signed with CaspiOilGas LLP (COG), the Concession Holder, and Markmore Energy (Labuan) Ltd. (owner of COG) to develop and extract hydrocarbon in the Rakushechnoye gas condensate field ("Rakushechnoye Field").
In January 2014, Sumatec started to produce its first oil from the field and commenced its workover campaign in April 2014.
The Rakuschechnoye Field is a 354.45 sq km gas condensate field located onshore next to the Caspian Sea within the Mangyshlak peninsular in the south-western Manghystau province, Kazakhstan.
KEYFACT Energy