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SUN Group formed SUN Energy, a wholly owned subsidiary, to participate in oil and gas exploration and production assets.  SUN Energy’s strategy has been to create value for its stakeholders by building a portfolio of high quality assets using its principal competitive advantages of proven operating skills, privileged access and an enlightened investment approach.

Within this framework, SUN Energy focuses its own efforts on the following:

Acquiring undeveloped oil and gas fields with discovered hydrocarbons and significant prospects for future development;
Increasing reserves through seismic surveys, drilling and engineering development plans; and
Solving oil/ gas production and export barriers and developing gas monetization or mid stream gas utilization plans.

Since 2006, SUN Energy has made direct investments in the Russian gas business and also set up Suntera Energy to own and operate Oil & Gas blocks in other parts of the world, with a primary focus on Africa and India/Asia. In these markets, integrated oil and gas projects have historically been the domain of the  international majors, but of late National Oil Companies (NOCs) and emerging regional players are seeking a more active role in developing such projects. Suntera works with these NOCs and regional players as a constructive partner bringing technical expertise, commercial structuring solutions, and established resource-to-market relationships. These in turn are supplemented by its strategic partners, global capital and experienced teams of management and investment professionals.

Suntera Resources Limited was formed in 2006 as a 50:50 joint venture between SUN Energy and a Russian gas company, and SUN Energy acquired a 100% stake in Suntera in March 2011. Suntera was set up with an objective to obtain privileged access to discovered oil and gas opportunities in emerging countries, and it indeed successfully acquired and operated two upstream oil and gas assets in Nigeria. 

Suntera is engaged in the exploration and development of Oil Prospecting License 205 (“OPL 205”) and Oil Prospecting License 905 (“OPL 905”) in Nigeria, of which OPL 205 has been converted to Oil Mining License 142 (“OML 142”). Both these licenses have  discoveries on them and significant further exploration potential. Suntera’s business strategy is to play a catalytic role in developing the Nigerian gas market such that industrial or power generation projects can be developed with relatively short distances from OML 142 & OPL 905 which will be willing and able to buy gas at economic prices.


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