kelvin collins
Reading, MD (USA)
C-Level Executive (CEO, CFO, etc.)
R'iconic oil
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Startup
Location:
qatar
Industry:
Other
Year Founded:
2009
Number Employees:
250-500 people
Business Stage:
Growth (profitable)
Entity Type:
"C" Corporation
Description:
An independent oil and gas exploration and production company focused on energy resources in the middle east,Its asset portfolio consists of 8 licenses covering an area of 41,000 square kilometers, including production and other projects offshore Qatar, as well as exploration licenses offshore and onshore Kuwait,and offshore UAE with significant interests throughout the middle-east. One of the company’s core properties is in an area where geologists confirmed there is between 40 and 50 million barrels of recoverable oil. Another asset owned has 27 wells on it and an additional 50+ wells are scheduled to be added. One of the goals of the company is to build on its estimated reserves of approximately $50 million through an aggressive acquisition strategy of proven properties. Only recently have some key leases become available which were closed down when the recoverable percentage was only 15% and with technology and expertise, can be raised to as high as 35%. (URL removed)s years focus will be on improving the newly learned production skills in order to get a perfect financial results, achieving better capital efficiency and on continuing to strengthen our operational performance and project (URL removed)onic;s outstanding economic performance contributes greatly to Qatar and Oman's economic and social stability. Even today we can already say that this year Riconic will once again be the largest taxpayer in the UAE Once its up (URL removed)o have better experience and newly acquired skills to prevent higher exploration expenses and lower upstream volumes,we have a business relationship with Exon Mobil and shell UAE,the company's plan and aim is to grow beyond its national champion status and take a firm of its place among global oil and gas majors who are interested in pursuing joint projects with us, including on offshore fields. Under the terms of agreements signed with our partners,they are ready to invest in joint projects and exchange technologies and human resources. With this impressive package we are getting ready to tackle offshore projects in the Arctic.
we are sure the success we achieved will make us even more confident that we will deliver on all of our projects, that the Company’s skillful personnel and its technological prowess will pave the way for even bolder endeavors. We have been working and researching and we will carry on working and keep working,as this is why real investors are needed to come on board...