He still is deeply invested in Africa, operating a fuel distribution network under the gotham black font mac Oryx brand (but unaffiliated with the newly public company) as well as Addax Bioenergy, a biofuels operation in Sierra Leone.
As a result they figure the field contains about 500 million barrels in several geologic intervals.But in Iraq the company also hopes to explore outside of the Kurdish region, in an area called Wasit, southeast of Baghdad and right next to the border with Iran.No oil and gas is flowing yet, but if all goes well in Iraq, Oryx states in its prospectus that it could be handling as much as 300,000 bpd of oil within five years.Gandur needn't be in a hurry.But the truth is that the Kurds have figured out a model that works.So the oligarchs had to back off their Iraq plans.It was emblematic of the regional government's trust in Gandur that a couple years ago they asked Gandur to do them a favor.Army General Wesley Clark.
Gandur, through AOG, controls 77 of the company.Iraq Oil Report doubt that Oryx has much chance of prevailing in Wasit.And little has changed from the Addax days as it concerns Gandur's legendary gift of forging political and business connections in complicated parts of the world.Despite the odds, perhaps these guys are well enough connected to make the Wasit plan work.Oryx, on the other hand, has no revenues at all.BP had objected to the company venturing out of Russia and onto turf that BP thought should be its own.When Addax was sold to Sinopec it was generating roughly 300 million a year owners manual for 2007 jeep grand cherokee laredo in net income on sales of 140,000 barrels of oil per day.In its prospectus, Oryx figures that developing Demir Dagh will cost around.1 billion, including some 200 million for an 80-mile pipeline and 200 million for processing.In contrast, the production sharing contracts offered by the Kurds do allow the booking of reserves and no cap on profit potential.Oryx admits in its prospectus that unlike the Kurdish region, Wasit is not "semi-autonomous" and does not have a successful history of awarding oil contracts - so the concession is more likely to be challenged by Baghdad.
(Image credit: AFP/Getty Images via @daylife).
Swiss billionaire Jean-Claude Gandur poses next to 'Sarah a painting by Jean Fautrier, one of his collection of masterpieces on display in late 2011 at the Fabre museum, Montpellier.