Our history
History of Equinox Group, Recommendations
Equinox Group Limited and its subsidiaries are all incorporated and registered as Limited Liability Companies in the Federal Republic of Nigeria. Each company serves a particular purpose within the Equinox Group and has at its core the unifying Equinox Vision.
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Company |
Purpose |
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427,123 |
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480,292 |
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612,151
505,792 |
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Other affiliated companies with Equinox Group Limited, but which are registered independently include:
- Equinox Oil, Inc.: Miami, USA
- Equinox Oil & Gas Limitada, STP: Sao Tome & Principe
- Equinox Trading Assets Limited: BVI
Equinox Exploration
Equinox Exploration Limited was established in 2006 primarily to identify and secure new opportunity in the exploration and production sector of the Oil and Gas Industry in Nigeria.
After the company's successful participation in the 2006 Mini-Bid round, Equinox Exploration was awarded a 10% equity in the deep offshore block OPL 286-DO. The operator of the block is British Gas with 66% equity while Sahara owns 24% equity.
Joint Operating Agreement between the partners on the block was executed in December 2006. Signature bonus on the block of USD $55 Million was paid to the Federal Republic of Nigeria Government in December 2006 with each partner paying its aggregate participation equity of which Equinox Exploration share was USD $5.5 Million. After which the production sharing contract was executed in March 2007.
In May 2007, the company provided a USD $7.5 Million back to back performance bond in favour of British Gas with respect to guaranteeing the company's ability to continually meet its 10% participation interest share of the minimum work program obligations for the Phase I of the contract. The total cost of the work program for Phase I is USD $75 Million.
Exploration activities on the block commenced fully with the establishment of Operation, Technical and Management committees. Other sub-committees have also been put in place. A drilling rig has been secured for the campaign, and the drilling activity starts in the third quarter of 2008.
The company is constantly looking for new and exciting opportunities in the Exploration and Production sector to develop.
In this section:
Latest news
Equinox Oil & Gas Acquires 40% Equity in Associated Oil and Gas Services
Abuja, Nigeria – Equinox Oil & Gas Limited, a premier indigenous private company has farmed-in 40% equity in Associated Oil & Gas Services Limited (AOGSL) which is the operator of Tom Shot Bank Marginal Field (OML 14). The marginal field is jointly ow...