OAJ & Company Investment Limited — together with its affiliate, Mercury Oil Limited — has been active in vessel chartering for over 29 years, providing services to oil drilling operators across Nigeria’s Niger Delta region. The Company currently holds a project portfolio comprising two marine charter vessel contracts (one fully executed, the other pending final signatures), with a third contract currently under active negotiation.
Vessel Charter Projects
Typical marine vessel charter contracts include a renewal clause governing the continuation of the agreement during and beyond the initial contract term. The Company regards these renewal provisions as dependable and anticipates their continued exercise, thereby ensuring minimal vessel downtime. The Company’s current vessel charter contract projects are detailed below:
Our vessel UNICORN VOYAGER is currently chartered to Neconde at its marginal oil field (OML 42). This oil field is located in Jones Creek, in Warri Southwest and Warri North LGAs of Delta State of Nigeria.
OPERATIONAL MAP OF UNICORN VOYAGER
The new oil marine vessel that the Company intends to purchase is to be chartered to Zircon Marine (as the direct charter company) although ultimately the vessel will work for Sahara at its marginal oil field (OML 40), located in Tsekelewu, Warri North LGA of Delta State.
PROPOSED OPERATIONAL MAP OF NEW VESSEL
The second new oil marine vessel that the Company intends to purchase is to be chartered to Del–Sigma Petroleum and will work at its marginal oil field (OML 55). This oil field is located in KE marginal offshore field, within the Kalabari native areas of Degema LGA of Rivers State of Nigeria.
PROPOSED OPERATIONAL MAP OF SECOND NEW VESSEL
