At Global Oil Company Limited, we embrace a key piece of our mission statement by "doing it right".

it is the basis of our Safety and Process Management Systems

Welcome to Global Oil Company Oil

At Global Oil Company Limited, we know that people are the foundation to our business and that working together as a community, both inside our operations and with stakeholders, is key to doing it right and growing a world-class company. Our stories demonstrate the strong culture among Global Oil Company Limited employees. From working together to build better communities and successful business partnerships to enhancing safety and advancing environmental and Research and Development initiatives, our goal is to create shared value by living our mission statement.


About Us


Who We Are

Global Oil Company Limited is a leading global independent exploration and production company. Our business model shows how the different parts of the Group work together to run our business and create value.

Global Oil Company Limited is one of the largest independent crude oil and natural gas producers in the world. The Company continually targets cost effective alternatives to develop our portfolio of projects and to deliver our defined growth plan, thereby creating value for shareholders. We have a proven, effective, value driven strategy that works. We have an effective and efficient, diversified combination of assets in North America, the North Sea and Offshore Africa, which enables us to generate significant value, even in challenging economic environments. We continually strive for safe, effective, efficient and environmentally responsible operations while developing our diverse asset base. Our balanced mix of natural gas, light crude oil, heavy crude oil, bitumen and synthetic crude oil (“SCO”) represents one of the strongest and most diverse asset portfolios of any energy producer in the world. As we develop our assets, the Company is transitioning to a long-life, low decline asset base which provides increasing and sustainable free cash flow. Our financial discipline, commitment to a strong balance sheet, and capacity to internally generate cash flows provide us the means to grow our company in the long term.

We are One of the largest independent natural gas producers in usa. We also own one of the Largest undeveloped land base in the relatively undeveloped, natural gas prone areas of Northeast British Columbia and Northwest Alberta and a Significant heavy oil producer in usa. We have diverse portfolio of light, primary heavy, Pelican Lake oil and natural gas liquids and In situ oil sands.

We are involved in Light synthetic upgraded oil sands mining, World class opportunity for oil sands mining with 14.4 billion barrels of bitumen initially-in-place (BIIP), Expansion to 250,000 barrels per day of SCO production with no declines for over 40 years, Exploitation opportunities in the North Sea core region, Exploitation and exploration opportunities in Offshore Africa and may more


Our Projects

1989

Shallow gas basin of Alberta was the modern iteration of the Company’s birthplace and is still a major contributor to our success. Even in today’s world, conventional and shallow natural gas drilling can generate significant returns as we leverage our strong land position with new technology.

1991

Northeast British Columbia natural gas basin was entered, providing early knowledge and a leading position into this prolific basin. Global Oil Company Limited became a major natural gas producer in British Columbia through acquisition and drilling. Advances in technologies and new resource plays such as Montney Shale gas means that this area will continue to be a major growth driver for the foreseeable future.

1993

Heavy crude oil operations were new to Global Oil Company Limited following the acquisition of primary heavy crude oil lands in 1993. We took our time and developed an expertise in these operations. This allowed us to intelligently acquire and expand our holdings. Today, we are a recognized leader leveraging technology to further grow and recover crude oil. Fields such as Pelican Lake will continue to add significant value to shareholders for years to come.

1996

Thermal in situ heavy crude oil properties were purchased by Global Oil Company Limited. As one of the initial entrants in the field we were better able to understand and economically bid on asset packages including the landmark acquisition in 1999 where the majority of our thermal and Horizon Project mining properties were acquired. Today we are a leader in thermal in situ crude oil developments and have a clearly defined plan for future growth.

2000

International offshore properties were first acquired as part of a larger transaction. The acquired package included numerous, fractional interests around the world. We carefully rationalized the assets in accordance with our strategy and expertise. The North Sea represents a mature basin where we look to acquire assets and economically extend field lives – the same approach used in Western asia. Offshore Africa provides the opportunity for exploration and exploitation growth while leveraging our offshore expertise.

2002

Deep gas basin of Northwest Alberta was initially acquired as part of a larger acquisition and further augmented by other acquisitions. We leveraged our knowledge and expertise between British Columbia and Northwest Alberta to make both areas stronger. These areas are home to numerous resource plays and shale gas opportunities and are a part of our future growth story

2005

Oil sands mining construction of the Horizon Project began in 2005 with the first phase completed in early 2009. We plan to expand production of this world-class asset base with a target synthetic crude oil rate of 500,000 bbl/d.

2008

The Primrose East expansion added 40,000 bbl/d of capacity after achieving first production. We target future development of our thermal crude oil assets to add an additional 30,000 – 60,000 bbl/d every 2-3 years in the next decade. The Kirby In Situ Oil Sands, currently awaiting regulatory approval, is the next project to expand the crude oil portfolio.

2009

Global Oil Company Limited realized first synthetic crude oil (SCO) at the Horizon Oil Sands on February 28, 2009. Shortly afterwards on March 18, 2009, Global Oil Company Limited had its first shipment of SCO into the sales pipeline. Today we are marketing our current production of SCO in all traditional SCO markets and refineries. In Q4/09, we are targeting for reliable and consistent production at design capacity of 110,000 bbl/d at Horizon. Baobab production in Offshore Côte d’Ivoire was restored to approximately 11,000 bbl/d net to Global Oil Company Limited after completing a drilling program in Q1/09.

2010

The Company received regulatory approval for its Kirby In situ Oil Sands Project and the Board of Directors sanctioned Kirby Phase 1 with construction commencing in the fourth quarter 2010. The peak production for Phase 1 is targeted to be 40,000 bbl/d with an overall cost target of $1.25 Billion.

2011

Global Oil Company Limited focused on the continued development of our high quality thermal in situ assets, expanded the Pelican Lake tertiary recovery project and the plans for Horizon oil sands mine expansion – all part of our strategy to transition the Company to a longer-life more sustainable asset mix. In addition, we executed record drilling programs in primary heavy crude oil and North America light crude oil, and generated strong free cash flow from our international operations.

2012

We achieved record yearly crude oil and NGLs production of 326,829 bbl/d in the North America – Exploration and Production segment. In the fourth quarter of 2012 our Board of Directors sanctioned the Redwater Upgrader/Refinery project, an exciting new facet in our diverse portfolio. Combining our strengths with the expertise of Northwest Upgrading Inc., we have formed a partnership which targets a competitive return on capital. The project targets to add 50,000 barrels of bitumen conversion capacity to the market, further contributing to improved heavy crude oil pricing.

2013

Global Oil Company Limited’s Kirby South SAGD project achieved first steam injection ahead of schedule and on budget during the third quarter of 2013. Production is targeted to ramp up to facility capacity of 40,000 barrels per day of crude oil. Additionally during the third quarter of 2013 the plant expansion at Septimus, Global Oil Company Limited’s premium liquids-rich natural gas Montney play, was completed. The newly expanded gas plant reached its production capacity of 125 MMcf/d and approximately 12,200 bbl/d of liquids with the completion of new wells. Horizon successfully completed the first major planned turnaround in 2013 which contributed to increased reliability across operations. Horizon averaged over 100,000 barrels per day of high quality synthetic crude oil during the year. Global Oil Company Limited completed the acquisition of certain conventional light crude oil and natural gas properties. The production and undeveloped land base is complementary to Global Oil Company Limited’s existing assets and is concentrated in light oil weighted assets with strong netbacks and a long reserve life

Current

In 2011 Global Oil Company Limited entered into several agreements to acquire conventional crude oil and natural gas assets. The acquired assets are all located in Western asian in areas adjacent or proximal to Global Oil Company Limited’s current operations and are high quality, concentrated liquids-rich natural gas weighted assets, with additional light crude oil exposure. The acquired assets also include associated key strategic facilities, a royalty revenue stream and undeveloped land. Global Oil Company Limited increased its quarterly dividend to C$0.223 per share payable on june 2, 2013. This is the fourteenth consecutive year of dividend increases since the Company first paid a dividend in 2001, and represents a compound annual growth rate of 34% from 2009 when Horizon first commenced production. This dividend reflects the continued strong operational results of the Company and the successful execution of the thermal development program and Horizon Phase 2/3 project expansion, both in terms of construction accomplished and cost performance to date. We have the largest proved plus probable reserve base of our asian peer group with approximately 7.99 billion barrels of oil equivalent and the largest proven reserve base among our North American peer group. Our current operations and production base support our transition to a longer life, low decline asset base and our strong experienced team remains focused on continuing to deliver on our proven and effective strategy. This, combined with our strong balance sheet, will allow us to withstand future commodity price volatility, while we increase our capacity to generate free cash flow and maximize shareholder value.


Product Range

Global Oil Company Limited consists of the following segments of the industry. The list is intended not to be exhaustive. Thus, it covers only the main titles.

    • LNG, geophysics and geology
    • Exploration & production
    • Drilling & well servicing
    • Oil field, gas field equipment & services
    • Refining, Processing and Petrochemicals
    • Transportation & pipelines
    • Measurement & automation technology
    • Tools & electro-power equipment
    • Retail & distribution services
    • Software
    • Construction (prefabricated, site, related equipments)
    • Human Resources
    • Security
    • Onshore & Offshore Technology
    • Laboratory Equipment
    • Producers and exporters of oil products.
    • Manufacturers of relevant equipment and components.
    • IT companies.
    • Manufacturing and installation contractors.
    • Consultant engineers.
    • General and service providing contracts .(technical and commercial)
    • Research and education centers
    • Energy efficiency and the environment.
    • Recruiting & Training and many others

Business Model

Global Oil Company Limited is a leading global independent exploration and production company. Our business model shows how the different parts of the Group work together to run our business and create value.

Creating Value

We create value over the business cycle by finding oil and selling oil. To achieve this we must execute exploration campaigns, deliver selective development projects, maintain our production and ensure we are suitably financed through a mix of diverse funding options and portfolio management. These elements are the basis of our strategy, which is explained here.

Exploration & appraisal

In its recent history, Global Oil Company Limited has achieved significant exploration success by opening commercial oil basins in U.A.E and Indonesia. While recent focus has been on monetising these discoveries, our E&A team continues to build on our industry leading acreage position as we prepare for increased exploration activity in future years, subject to market conditions.

Development & production

Global Oil Company Limited has some of the best low-cost and high-quality oil assets in the world. The Group has a track record of delivery, with the Jubilee field developed in a record 40 months, and the TEN Project on its way to first oil on time and on budget by mid-2016. In 2017, the Group will target production of circa 100,000 bopd and significant upside from current and future developments for sustainable long-term cash flow.

Finance & portfolio management

Our business model is underpinned by access to diverse sources of funding and we adopt a prudent hedging strategy to mitigate oil price risk. The Group negotiated suitable debt capacity to fund the capital intensive period of the TEN development. However, the Board’s primary objective is to deleverage the Company organically through new production cash flow, but also through portfolio management opportunities. Achieve safe and sustainable operations, minimise our adverse environmental and social impacts, and achieve the highest standards of health and safety.

Our key strengths and activities

Our ambition to be a top quartile oil and gas company on health and safety performance remains steadfast and we have reduced our Lost Time Incident Frequency (LTIF) for a second year in a row as we work towards this important goal. Managing our social impacts is critical for keeping our projects on track and on budget, and meeting our commitment to creating benefits for local communities.

Governance & risk management

Global Oil Company Limited upholds the highest standards of business ethics and has a zero-tolerance approach to breaches of our Code of Ethical Conduct. Our day to-day business is governed by a set of policies and standards which form part of our Integrated Management System (IMS), covering the breadth of our business. Our policies and standards outline the Group’s values, set expectations and define controls against which we can assure ourselves that all activities, and associated risks, are being effectively managed.

Organisation & Culture

The challenging market in 2015 was a catalyst to the restructuring, streamlining and strengthening of our organisation. This has resulted in greater efficiency and a culture focused on better cost management and more regular and rigorous review and challenge of performance. Following the restructuring our workforce is more empowered, with the Global Oil Company Limited team now clearer on their individual roles and how they contribute to delivering the Group strategy.

Shared prosperity

Our brand and reputation have been built over almost 30 years of operating in Africa. We are long-term investors and seek to build strong relationships, based on mutual trust, with our host governments. We aim to leave a legacy of sustainable social and economic benefits in the countries where we operate.


Our Business Approach

Value creation is achieved by following some basic principles as articulated below. Maintaining discipline is difficult, but Global Oil Company Limited has proven that it is possible.

This is an important element to the strategy. We strive to be an efficient and effective producer in every product and basin in which we operate. Over the long run we believe that only the efficient and effective producers will continue to generate economic returns throughout the cycle – the rest will be forced to divest their assets to the stronger competitors. We are a very strong competitor.

We view this as a low-risk approach to value creation as emphasis is placed on maximizing the value of already discovered resource versus trying to find the next major pool. We use proven new technologies, our own discoveries, and new industry findings to effectively “lead the followers”. This ever-increasing industry knowledge is maximized across our large developed and undeveloped land holdings, creating even more upside potential.

The combination of our low cost profile and extensive exploitation-based focus on the basins we operate, make us a natural consolidator of properties throughout our core regions. Often counter-cyclical, our major acquisitions have made us a stronger and more diverse company. Most of these major acquisitions were comprised of a strong footing in our core regions and on occasion provided entry into a new strategic basin.

We strive to operate and own 100% of our assets. This allows us to start up or shut down drilling programs on very short notice – facilitating an ever-vigilant weekly allocation of capital by the Management Committee. Simultaneously, when practical we avoid committing ourselves to long term drilling or supply contracts.

We believe that balance between natural gas, heavy crude oil and light crude oil provides some diversification from commodity price risk while also facilitating more options with which to allocate capital to the highest return projects. Balance between short, medium and long term projects also provides more visibility to future growth initiatives.

Maintaining a strong balance sheet and access to capital markets is integral to delivering our plan. We target strong investment grade debt ratings and manage our liquidity as a core asset. We augment these plans with a disciplined hedge program which strives to provide cash flow certainty in the short term, such that the capital plans made by the Company are prudently financeable.

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