Perenco
Perenco is an independent French-British oil and gas company with a headquarters in Paris and London. It conducts exploration and production activities in 16 countries around the globe. Perenco is involved in operations both onshore and offshore with production equal to approximately of oil equivalent per day.
Perenco is owned by the French Perrodo family, whose fortune was estimated at around €8 billion in 2022.
History
The company was established in 1975 by Hubert Perrodo as a marine services company based in Singapore. In 1980 the Group founded the Techfor drilling company and built a fleet of drilling rigs, jack-ups, swamp barges and land rigs. In 1982, the Group acquired the French drilling company Cosifor. In 1985, Perenco began its expansion into the upstream business, acquiring several proven onshore oil and gas fields in the United States, applying secondary-recovery techniques to enhance production. In 1992, it changed its profile to the oil exploration and production.Operations
Perenco operates in 16 countries and has over 6,000 employees. It is involved in operations both onshore and offshore with production equal to approximately. While Perenco's growth has been driven by acquisitions, the Group's strategy evolved rapidly towards increasing production and reserves, renewing licenses and securing additional acreage for new exploration and development opportunities.Regions
Africa
Perenco operates in 5 countries on the African continent. In March 2023, Perenco became the subject of several preliminary investigations regarding corruption of public officials in African countries. These investigations began at the same time as investigations of Perenco in France.Cameroon
Perenco has operated in Cameroon since 1993, as a partner with ExxonMobil and SNH, Cameroon's state-owned hydrocarbon company. In 2018, Perenco began production at Cameroon LNG on the floating LNG unit Hilli Episeyo.Congo
Perenco operates four offshore fields in the Republic of Congo: Emeraude Field, Yombo Field, Likouala Field and PNGF-Sud Fields.Democratic Republic of Congo (DRC)
Since Perenco's arrival in the region in 2000, production has increased significantly through continual investment in new production wells. The company's technical expertise focused on completing the primary recovery process and starting the secondary and tertiary recovery processes. Perenco is the DRC's sole oil producer and is the largest investor and taxpayer in the country.Gabon
Perenco began operations in Gabon in 1992 with the acquisition of four offshore fields south of Port-Gentil. The production is through 29 offshore and onshore licences. One half of Perenco's crude oil production in Gabon is sent to the Fernan Vaz and Mayumba Floating Storage and Offloading units, with storage capacities of and, respectively.Since December 18, 2007, Perenco has supplied gas to the power plants of Libreville and Port-Gentil. This partnership is the result of a project enabling Perenco to provide up to 680,000m3 of gas per day.
In 2017, Perenco made a deal with Total Gabon, taking operatorship of several licences that were previously produced by Total only.
In 2018, Perenco entered talks to purchase Sardine from Forafric Energy.
Tunisia
Perenco's Tunisian assets were acquired in July 2002. Perenco owns 50% and operates the on-stream El Franig, Baguel, and Tarfa gas condensate fields in central Tunisia.Production from the El Franig and Baguel fields is transported to the central processing facility in Oum-Chiah via 120 km of pipeline. Condensate is transferred to the La Skhira terminal for export, and gas is delivered to the Gabes plant for domestic consumption.
Perenco is actively exploring the Takrouna permit, and a 400 km 2D seismic programme has already been acquired. Evaluation of relevant data will determine a location for an exploration well.
Asia
Vietnam
Perenco has participating interests in 3 Vietnamese companies, 23.25% in Block 15-1, 36% in Block 15-2, and 16.33% in the Nam Con Son pipeline. Perenco’s Vietnamese holdings were acquired from ConocoPhillips in 2012 for a reported $1.29 billion. In 2018, both companies filed a suit in Vietnam to attempt to stop the Vietnamese government from taxing the sale, noting that the sale was between two UK-based companies and therefore not subject to capital gains tax.Australia
Perenco holds a 60% interest in, and operates, exploration permit T/32P and holds a 37,5% interest in T/35P operated by Santos in partnership with Mitsui. These permits are located in the offshore Sorell Basin in South-East Australia, which is an extension of the producing Otway Basin. They have a combined area of over. They offer a range of play types, prospects and leads, some of which are analogous to the Thylacine and Geographe fields in the Otway basin.Perenco also holds a 33% interest in AC/P45 and 40% in AC/P44 in the Browse Basin of the NW shelf with the remainder held by Finder Exploration, who retain operatorship. AC/P44 and AC/P45 have a combined area of.
Central America
Belize
Perenco holds a 100% interest in Block A, located in the north of Belize. The Block A exploration permit was signed with the Belizean Authorities in January 2008. The permit is located in the Corozal Basin, an extension of the producing North Peten Basin in Guatemala, and to the north of the Spanish Lookout and Never Delay fields. The permit covers an area of.Mexico
In August 2018, Perenco reached an agreement to acquire 49% of Petrofac Limited in Mexico.Land invasion scandal
In 2020, Perenco faced allegations that it used local authorities to repress the communities of Tabasco and landowners who refused to accept the contracts it had imposed. The owners of the land reported the allegations to the National Human Rights Commission and the Government of Mexico.Caribbean
Trinidad and Tobago
In December 2016, Perenco acquired the Teak, Samaan and Poui fields offshore the south-east coast of Trinidad from Repsol. Perenco is the operator and holds 70% interest in the assets with state owned Heritage and NGC holding the remaining 30%. TSP produces more than 10,000 bopd from Plio-Pleistocene sandstone reservoirs. Perenco is the largest foreign oil producer operating in Trinidad and Tobago.Europe
In 2022, Investigate Europe and published a series of articles with the support of the Environmental Investigative Forum about Perenco "including alleged pollution, structures in tax havens and political ties."United Kingdom
Perenco operates five compression hubs/gas gathering platforms with their connecting pipelines to the Bacton Gas Terminal on the Norfolk coast.- East Leman
- Inde -
- Trent -
- Lancelot -
- Thames
In 2012 it acquired all offshore Southern North Sea BP gas assets, previously called "SGA". The asset transfer included an office in Hessle and the Dimlington gas terminal.
In 2024, the Guardian revealed that Perenco repeatedly missed by many years agreed official deadlines to decommission ageing North Sea oil wells at a cost of up to £8m each, creating major fire and environmental risks.