SINGAPORE and HAMILTON, Bermuda, May 6, 2014 /PRNewswire/ --

AziPac Ltd. is a newly established exploration and production company focussed on exploring for oil and gas in the maritime basins offshore the Asia Pacific region and the Bay of Bengal.   AziPac is backed by Seacrest Capital Group, the global energy investor. AziPac will be headquartered in Singapore.

Portfolio 

At launch, AziPac has secured a number of exploration licences in the Southeast Asian offshore and Bay of Bengal regions.  Further details of the opening portfolio of licences will be made public following final regulatory approval in each of the relevant countries. AziPac has built up a significant pipeline of attractive exploration opportunities throughout the region.  

Management & Technical Resources 

AziPac joins a growing portfolio of regional companies established by the Azimuth Group ("Azimuth") and backed by Seacrest Capital Group, the global energy investor. Azimuth has exploration assets offshore Asia-Pacific, Ireland, Norway, the United Kingdom and Namibia. Azimuth has a team of thirty oil industry professionals with a proven track record of finding significant hydrocarbons offshore, including the Asia Pacific region.  The team has been involved in over 100 oil and gas discoveries globally. AziPac, like the other Azimuth exploration companies, will utilise this shared resource of world-class professionals, as well as leading edge seismic data, to optimise exploration opportunities and de-risk assets in the Asia-Pacific region.

Azimuth Group is managed and backed by Seacrest Capital Group, a leading global energy investor.

David Sturt, Director of AziPac, Commented: 

'The offshore Asia Pacific and Bay of Bengal regions are experiencing a resurgence in exploration for new oil and gas reserves. This is driven by exciting recent discoveries, new licencing rounds, new company entrants and, importantly, the potential for new technologies to be brought to bear in new and mature exploration areas. AziPac has been established with an opening portfolio of world-class exploration assets and is well supported by the Azimuth Group which includes professionals who have a proven ability to discover significant hydrocarbons in the region. We aim to rapidly grow the company, with a focus on technology and innovative exploration thinking to unlock value in traditional and new oil and gas basins offshore Asia."

Note to Editors: 

Seacrest Capital Group is a leading energy investor specialising in offshore exploration, leveraging its proprietary assets and relationships to build a diversified, global portfolio of regionally focussed oil and gas exploration companies. Since 2011, Seacrest Capital Group has invested in a number of successful start-ups in the United Kingdom and Norwegian North Sea, West Africa, Ireland and South East Asia.  As a result of Seacrest's support, AziPac is in a strong position to take advantage of and build on further opportunities as they arise in the offshore Asia Pacific and Bay of Bengal regions.

SOURCE AziPac Ltd.