Artumas Group Inc. is an international energy producer focused on monetizing its hydrocarbon reserves in the Rovuma Delta Basin in Tanzania and Mozambique. By exploring, developing, producing and commercializing known petroleum systems, Artumas is poised to deliver a sustainable rate of return for our stakeholders while creating social and economic opportunities for the people of Eastern Africa. Artumas’ common shares trade on the Oslo Stock Exchange under the symbol AGI.
Focus
Artumas seeks to acquire operational control of upstream properties that we believe hold significant development and exploration potential. In particular, we are focused on increasing our holdings in fields and basins in which we can leverage existing infrastructure and discovered hydrocarbon resources. Artumas is conducting an active technology-driven exploration program focused on prospects with material resource potential, to compliment our property acquisition and appraisal and development drilling efforts that are directed to commercial exploitation of known hydrocarbon accumulations.
Furthermore, Artumas will acquire assets and pursue developments that have positive social impacts as well as profit generation capabilities and upside potential for our shareholders, and will seek commercially attractive solutions for gas off-take through development of additional gas markets in the sub-Saharan region.
Risk Mitigation Strategy
Artumas’ risk mitigation strategy begins with identifying known petroleum systems in regions of Africa which demonstrate an acceptable environment for Foreign Direct Investment and manageable above-ground risk. Development rights for identified but undeveloped hydrocarbon resources are acquired through evaluation and negotiation of “fit-for-purpose” commercialization options that allow for the monetization of the stranded petroleum systems. Once the mineral rights are secured, Artumas applies its technical expertise in the exploration, exploitation and development of petroleum systems, and its proven commercialization acumen to deliver value accretion to the stranded resource and, hence, to the Company.
Commercialization Strategy
In our commercialization strategy, Artumas focuses on identification and implementation of mixed monetization opportunities, combining local/regional market access through gas-to-electricity projects and direct gas and liquids demand, with gas export options which include pipeline, CNG and when economically viable, the potential of LNG. This mixed monetization strategy is designed to maximize early production volumes while securing volume growth from relatively large untapped resources within an appropriate time frame.
Strategic Relationship
Management has established strong relationships with key government officials and business leaders in East Africa, through our continuing commitment to the region’s gas-to-electricity business plan. These relationships, combined with our knowledge of the region and our ability to address the energy challenges there, have assisted us in operating successfully in the area. These advantages were instrumental in Artumas acquiring substantial concession holdings in Tanzania and Mozambique, and have allowed the Company to take its place among international integrated oil and gas companies operating in the region.
Corporate Responsibility
Our Corporate Social Responsibility (CSR) Statement has three areas of focus: environmental awareness; health and safety; and education and training. We are implementing this CSR program in the community through our Artumas Africa Foundation (AAF)