Tri-Ocean Energy is the region's first vertically integrated private energy company. It is a diversified energy company with target investments in exploration and production, shipping and other select businesses.
Tri Ocean Exploration and Production has acquired 50% equity share in the North Shadwan Concession located in the Gulf of Suez with BP Exploration (Delta) Limited. The financial and drilling obligations of the First Exploration Phase have been fulfilled and a notice to entering the first exploration extension has been sent to EGPC. Two undeveloped Miocene oil discoveries with Oil Initial In Place of 85 million barrels shall be developed with the target of first oil by 2009. A recent light oil discovery has been achieved in October 2007 where 200 feet of Nubia oil bearing sandstones have been penetrated. The appraisal and development plans are currently being discussed with BP, the Operator.