joakadomprofile.pdf

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1. 1 From the desk of Managing Director / CEO. We are delighted and privileged to introduce Joakadom Oil Limited to you. Joakadom Oil limited was formerly Joakadom Nigeria Ltd, registered to carry on the business of safety in its ramifications and branches mostly in the Oil & Gas Industry. While we continue to think on the best way to serve you our most valued clients / customers and associates with added value, we increased our capital base and formed a company called Joakadom Oil Limited (JOL). The idea is to increase our stake and magnify our position in the oil and gas industry globally. Our company prides its successes, core values and vision around its ardent and faithful clients in the private, public sectors, high net-worth individuals, our associates and partners. It is well said that success in life is continuous reinventing, rethinking, handwork and above all God’s grace. That is why at Joakadom Oil Limited our prime drive is clinched to the powers of innovations, strategies, concepts and education to overcome the challenges of the competitive business world and the uncertainties of our immediate environment. This has kept us afloat over the years among our competitors and equals as there are best even amongst equals. And because business and life are part of a learning process, we will continue to improve on where we are now. Joakadom as an integral oil and gas services solutions provider will continue to play a key role in reinforcing its position as a preferred choice in the oil and gas industry. With proactive resolve, we have and shall continue to turn challenges to opportunities and strengths. We remain dynamic and nimble and respond promptly to new threats and opportunities. We recognized that the key to lead changes stems from understanding and anticipation of customer needs, muster corporate resources to satisfy those needs better than our competitors. Our company is opened to ideas and people. We are not limited by where we are today. We recognize impossibilities and uncertainties but we are not moved by these circumstances, we are greatly motivated by possibilities, results, satisfaction, hard work and love. At Joakadom Oil Limited (JOL) we are proactive and responsive to change. Finally, while we thank you once again for your unalloyed support, please note that we recognize partnership and appreciate every referral or introduction to us. We thank you in anticipation of your mutually beneficial business relationships. Mayor Richard Adomhokha Managing Director / CEO Joakadom Oil LIMITED Joakadom Oil Limited Oil and Gas Exploration and production Refining Marketing Supply & trade Marine service Swap lifting Pipe line service Oil and gas engineering Investment and partnership Our future outlook www.joakadom.com
2. 2 BRIEF HISTORY Joakadom oil limited was incorporated in 2001 as Joakadom Nigeria Limited, with the focus to provide safety products in the oil and gas industry. Having diligently served various sectors of the industry the company grew into a full blown oil and gas company in 2011 to carry on the business of exploration, exploitation and production in upstream, downstream and peripheral industries of oil and gas.” A reputation of integrity is one of the most valuable assets a company can possess”. Joakadom Oil Limited has built its consciousness over the years on this philosophy in its quest to be the world’s leading oil and gas company. Hence, the company is totally dedicated to meet its clients/customers’ needs, employ a culture of professionalism that identifies required ethical standards, adherence to industry’s regulations and standards and social responsibilities. The Company is not subject to any government regime in its place of incorporation. The Company substantially complies with the Combined Code on Corporate Governance and supports high standards of corporate governance. Joakadom Oil Limited Oil and Gas Exploration and production Refining Marketing Supply & trade Marine service Swap lifting Pipe line service Oil and gas engineering Investment and partnership Our future outlook www.joakadom.com Our vision is driven by hard work, commitment and love
3. 3 OUR COMPANY POLICIES Our Policies We are committed to high standards of corporate governance and investment in personnel. Our policies and guidelines include the following: Quality Standards Our commitment to best practice and continuous improvement. Service quality audits are carried out regularly to ensure compliance with operational procedures. Continuing Professional Development and Training Our policy is to comply with the Code of Professional Conduct which places an obligation on the Company to provide adequate resources in terms of qualified staff to complete works undertaken by the Group. Staff Performance Appraisals Staff performance appraisals are held on a twice yearly basis to assess progress and identify any training and development needs. All appraisals are private and confidential and include self assessment in respect of professional requirements, further education and personal ambitions. Health and Safety The management of Joakadom recognises that it has a legal duty of care towards protecting the Health and Safety of its employees and others who may be affected by the Company’s activities. Equal Opportunities Joakadom is an equal opportunity employer. We are committed to ensuring within the framework of the law that our workplaces are free from unlawful or unfair discrimination on the grounds of disability, colour, race, nationality, ethnic or national origin, sex gender (including gender reassignment), sexual orientation, age, marital status, religious or other similar philosophical belief. Environment Impaired environments affect the quality of life and the wellbeing of everyone. Joakadom Oil believes that every commercial organization has its part to play in ensuring sustainable development in the long term. In recognition of our environmental responsibilities, we have developed a strategy which seeks to reduce and minimize the impact our operations have on the environment. Joakadom Oil Limited Oil and Gas Exploration and production Refining Marketing Supply & trade Marine service Swap lifting Pipe line service Oil and gas engineering Investment and partnership Our future outlook www.joakadom.com Our doors are opened to partnership and investment
4. 4 OUR STRENGTHS AND BUSINESS Our Strengths  Broad size and quality of our oil and gas portfolio on offer.  Highest quality oil and gas portfolio.  Good returns on client portfolio investment.  Ability to recruit, retain, train and develop our personnel.  Objective recruitments of talented and motivated personnel.  Adaptable, resilient operating business model.  Experienced and motivated management team.  Strategic oil and gas management.  Proven capital investment strategy.  Stable cash flows management policy.  Economies of scale advantage.  Global synergy Our Business Best for our personnel We believe that a well motivated team will deliver consistently great customer experiences. Best for clients / customers We put our clients / customers at the heart of our businesses, to focus our teams on delivering great customer experiences, all day every day, which will in turn drive client advocacy. Best for High Net-Worth Individuals / Investors We focus on delivering competitive and consistent return on oil and gas investment to our clients / customers. Operational Excellence Our operational excellence is embedded across our business, delivering further stakeholder values by ensuring that our teams do the right things in the right way, with the right measures supported by business leading communications. Joakadom Oil Limited Oil and Gas Exploration and production Refining Marketing Supply & trade Marine service Swap lifting Pipe line service Oil and gas engineering Investment and partnership Our future outlook www.joakadom.com We create sustainable value through a high performance team culture
5. 5 ABOUT JOAKADOM OIL LIMITED Joakadom Oil Limited is a specialized, economic and efficient company that has established a global status as a developer of exploration, exploitation and production in upstream, downstream and peripheral industries of oil and gas. The company has assembled an attractive portfolio of exploration, development and production assets over the years. We are in partnership with all the major national and international oil and gas companies, the integrated oil majors, as well as the independent refiners. We are a company with great base of excellence and doggedness to ensuring maximum satisfaction of our customers, clients/investors. We extract, refine, trade, store and transport energy resources from where supply is abundant to where demand is most needed and we don’t compromise our commitment to NNPC/DPR standards. Since its inception, Joakadom Oil Limited has maintained a high level of quality service delivery, adequate quantity supply and uncompromising safety optimization (we do not compromise safety for commercial gains). We are committed to a culture of performance that both demands and rewards outstanding result throughout our business. Our Vision Joakadom Oil Ltd, foresees a future where we will champion and make available services, which would fully meet oil and gas needs and demands globally. Our Mission To provide cut edge services in all sectors of operation while upholding our dignity through diligence and stewardship. To provide our clienta, customers/investors with solutions that cater for their needs, while envisaging the possibilities that lie ahead and offering valued services which will guarantee their satisfaction. Joakadom Oil Limited Oil and Gas Exploration and production Refining Marketing Supply & trade Marine service Swap lifting Pipe line service Oil and gas engineering Investment and partnership Our future outlook www.joakadom.com We are a company with great base of excellence and doggedness to ensuring maximum satisfaction of our customers, clients/investors.
6. 6 OUR VALUES Our business is built on long lasting relationships founded on trust; We are always guided by the optimum standards of ethical business conduct. We treat all stakeholders with fairness, honesty and respect.  High Performance: We create sustainable value through a high performance team culture and provide a collaborative, supportive work environment where employees are encouraged to reach their full professional potential.  Health and Safety: We conduct our business with high regard for the health and safety of our employees, contractors and neighboring communities.  Environmental Stewardship: We are committed to minimizing environmental impacts by reducing wastes, emissions and other releases.  Honesty and Integrity: We uphold high standards of business ethics and integrity, enforce strict principles of corporate governance and support transparency in all of our operations.  Corporate Citizenship: We live by our principles of corporate social responsibility and make a difference through our social development and volunteer programs. ETHICS Business conduct Our Code of Business Conduct is a product of our commitment to comply with the law and to conduct our business ethically while reinforcing our values of trust, respect, dignity and honesty, which form the foundation for our good business decisions. In the ever-changing business environment in which we operate, it is important to us that our employees, suppliers and stakeholders understand our position regarding our laid out ethical principles. HSE Policy  Joakadom Oil Limited aims to ensure that risks to personnel and equipment involved in its operations are identified, assessed and controlled at all levels by:  Providing appropriate personal protective equipment (PPE) and ensuring their administration.  Adherence strictly to Risk assessment reports, Standard Operating Procedures (SOPs), Safety rules and regulations and Company’s Journey Management Plan (JMP).  The continuous identification of causes of accident and mitigating measures.  Pre-mobilization of equipment. Joakadom Oil Limited Oil and Gas Exploration and production Refining Marketing Supply & trade Marine service Swap lifting Pipe line service Oil and gas engineering Investment and partnership Our future outlook www.joakadom.com Our Quality Assurance team performs quality audits of Joakadom's facilities and provides quality-related technical support to the organization and the customers.
7. 7 CORPORATE GOVERNANCE The overall role of Joakadom’s board of directors encompasses strategic planning processes, risk management, communication with investors and other stakeholders, and standards of business conduct. The Board is also responsible for selecting, monitoring and evaluating executive leadership and aligning management's decision-making with long-term shareholder interest. Composition The company's Board comprises of Executive Directors, Non-Executive Directors and Non-Executive Chairman. The Directors have either held senior appointments in oil and gas companies, companies with interests in the energy sector or have significant corporate and financial experience in the same industry. The Board believes that its composition is suitable for operating an effective international oil and gas company. Joakadom Organizational Structure Joakadom Oil Limited Oil and Gas Exploration and production Refining Marketing Supply & trade Marine service Swap lifting Pipe line service Oil and gas engineering Investment and partnership Our future outlook www.joakadom.com As physical suppliers we deal daily with storage facilities, pipelines and delivery operation
8. 8 EXPLORATION AND PRODUCTION Joakadom Oil Limited Exploration & Production is involved in the acquisition, exploration, development and production of oil and natural gas resources. Our businesses include the acquisition of producing properties and leaseholds with potential development opportunities, exploratory drilling, and operation and development of oil and natural gas production properties. To this end, we rely on our extensive technical know-how, state-of-the- art drilling and production facilities, and our corporate experience. In all our operations we attach the highest priority to environmental protection, occupational safety and health. By continually improving our high standards in these fields, we are regularly setting new benchmarks. All this is the guarantee of our corporate success. Some of our activities include:  Geological research  Geochemical analyses  Basin analyses  Core analyses Operating internationally Joakadom Oil Limited has concessions, facilities and offices in countries of the world. They include production facilities and concessions in Dubai, the UK, South Africa etc. Also, we operate large gas-storage facilities in some African countries. Successful partnerships Jokadom Oil Limited consistently invests in strategic partnerships. Without this kind of cooperation it would be impossible to finance the high levels of investment required in our industry. The state of the art facilities and technologies needed to produce oil and gas to access regions cost a lot of money. And that is why we work closely and with full confidence as an operator or licensed partner with a number of competent partners in many of our national and international onshore and offshore projects. Safeguarding energy supplies with oil and gas These two fuels have been the pillars of our prosperity and energy supplies. In industrialized countries oil and gas are indispensable not just in economic terms but also for our private lives. In spite of the steady expansion of renewable, oil and gas will continue to be two of the most important sources of energy in the next few decades. Natural gas in particular is a fuel with a future. It is safe, flexible in its use, available in sufficient quantities and particularly climate-friendly. Joakadom Oil Limited Oil and Gas Exploration and production Refining Marketing Supply & trade Marine service Swap lifting Pipe line service Oil and gas engineering Investment and partnership Our future outlook www.joakadom.com Exploration and Production
9. 9 MARKETING Crude Oil Marketing Our Marketing business is a full-service crude oil supply, marketing and trading business. We strive to maximize the value of our world-class portfolio of physical assets while obtaining competitive market prices and capitalizing on market opportunities. Our Activities We are committed to providing superior customer service through reliable and custom product offerings. Our product and service offering includes:  Crude oil supply at competitive wholesale pricing  Sweet crude oil and sour crude oil  Heavy crude oil and diluted bitumen  Transportation and storage services Natural Gas Marketing Joakadom Oil Ltd.’s Natural Gas Marketing business is a full-service wholesale natural gas supply, marketing and trading business. With more than 12 years of gas marketing experience, we are focused on providing superior value to both local and international gas customers through a reliable and cost-effective product-service offering. Our services Our product-service offering includes:  Natural gas supply at competitive wholesale pricing  Load management services  Transportation and storage services  Producer services Our logistics chain includes:  Truck transportation  Trans-loading  Prilling  Marine terminalling  Access to global markets Joakadom Oil Limited Oil and Gas Exploration and production Refining Marketing Supply & trade Marine service Swap lifting Pipe line service Oil and gas engineering Investment and partnership Our future outlook www.joakadom.com Exploration and Production
10. 10 REFINING Joakadom refining business is quite young and dynamic. We have a simple approach to business, where responding rapidly to the changing needs of our customers is underpinned by continuous improvement from empowered employees. With our partners we process quite a number of barrels of crude oil per day. Our refineries are strategically located to feedstocks and our customers are key elements of our strength. We also import other crudes from around the world. Our refineries are able to produce clean fuels meeting current “organization of petroleum exporting countries” (OPEC) specification. We are in the process of making further investments in the refinery to achieve greater result. In addition to petrol and diesel, Our refineries produces propane and butane, typically used for cooking and heating, kerosene for aircraft, fuel and fuel oil for ships and industry. Refined products not supplied to Joakadom’s retail network or commercial customers are sold on the international oil markets where it also purchases the crude oil to feed the refinery. We do not only seek to be the supplier of choice but also the employer of choice; decentralized and highly entrepreneurial in nature. In applying this approach, we have very exciting prospects to achieve year-on-year safe, compliant and profitable growth, that will enable us to fulfill our mission to become a global leader. Joakadom Oil Limited Oil and Gas Exploration and production Refining Marketing Supply & trade Marine service Swap lifting Pipe line service Oil and gas engineering Investment and partnership Our future outlook www.joakadom.com We are a company with great base of excellence and doggedness to ensuring maximum satisfaction of our customers, clients/investors.
11. 11 TRADE AND SUPPLY As a significant participant in the global flow of oil and gas products Joakadom Oil Limited uses its knowledge and experience to fully understand the relevant forces in any particular market. Our team has a deep understanding of the territories in which it sources, transits and delivers product; We absolutely understand these complex environments and the markets' relationships with them. Physical Supply As physical suppliers we deal daily with storage facilities, pipelines and delivery operation. With an expanding national network of physical stores in every major regional oil hub, we ensure that our customers have quick, reliable and easy access to all grades of quality petroleum products in ports, offshore and on high sea. We take the responsibility of products we supply and can guarantee enhanced security. Joakadom Oil Limited has an active trading account handling wide range of petroleum products, with strategic infrastructure of Oil Terminals and Supply Vessels based in various global locations. Joakadom Oil has established itself as a dependable International trading company. Oil trading mode of transportation  Bulk vessel supply  Road tankers  On flexi bags  Drums. Our bunkering services focus on trade for vessels within the Nigerian waters and vessels trading on international waters. Our commercial teams provide coverage of the global markets 24 hours a day; their activity is supported and enhanced by a team of highly trained professionals in the key disciplines of logistics, finance and risk management. Our international customer base is made up from a wide variety of industries, ensuring we can facilitate any type of transaction from off take and supply to refining, blending and strategic storage. To ensure we have a truly global presence, of strategic storage facilities that allow us to partake in regional downstream activity as well as international trade. The company offers clients competitive pricing, access to tailor-made products, customized term contracts and a fully integrated fuel delivery services. Joakadom Oil Limited Oil and Gas Exploration and production Refining Marketing Supply & trade Marine service Swap lifting Pipe line service Oil and gas engineering Investment and partnership Our future outlook www.joakadom.com We are a company with great base of excellence and doggedness to ensuring maximum satisfaction of our customers, clients/investors.
12. 12 OIL AND GAS ENGINEERING Joakadom, is a multi discipline company, driven by excellence and expertise. Our oil and gas engineering services are tailored to provide customized solutions that meets the demanding and diverse requirements of both new construction and existing inspection, repair and maintenance projects. We provide full range of oil and gas asset management and engineering solutions to the offshore energy industry. Our primary duty is to ensure that clients enjoys the confidence of a fully managed, engineered solutions from project inception to completion. Our Engineering Solutions Include:  Commercial diving services  Engineering subsea and pipeline  Hydrographic surveying, positioning and  Geophysical services  Inspection services  Underwater welding  Offshore integrity management  Pipeline stabilization and protection  Project management  Repair and maintenance services-topsides and subsea  Testing and assembly services Joakadom Oil Limited Oil and Gas Exploration and production Refining Marketing Supply & trade Marine service Swap lifting Pipe line service Oil and gas engineering Investment and partnership Our future outlook www.joakadom.com We are a company with great base of excellence and doggedness to ensuring maximum satisfaction of our customers, clients/investors.
13. 13 MARINE SERVICE Joakadom Oil Ltd, supplies millions of marine fuel and lubricants each year. Our stock capacity gives us the competitive edge. Smooth Sailing We're known for our speedy and reliable service. Our high standards in marine products help you keep your engines running smoothly and efficiently. Marine Transportation Joakadom, have the best safety records in the past years. We offer marine transportation locally and on international waters. We ensure that all safety and journey management system are adequately followed. Our barges and vessels are well maintained to ensure efficiency. Consultancy Joakadom, provides advisory and direct consultancy in marine engineering services. Our services are tailored to achieve your desired goal. Vessel Leasing Our stock of marine fleets includes: Crew Boats and Offshore Supply vessel, crude oil tank vessels, Work barges, Shallow Draft Vessels, Survey Vessels, Fast Support Invention Vessels, Pipe Laying Barges, Anchor Handling Tugs, Crew Boats and Offshore Supply vessels, Diving Support Vessels. Joakadom Oil Limited Oil and Gas Exploration and production Refining Marketing Supply & trade Marine service Swap lifting Pipe line service Oil and gas engineering Investment and partnership Our future outlook www.joakadom.com We are a company with great base of excellence and doggedness to ensuring maximum satisfaction of our customers, clients/investors.
14. 14 SWAP LIFTING The business of oil and gas is quite diverse and requires large equity and expertise. Our business are fashioned in a way to allow exchange and trade of interest, products, investment and projects. PIPELINE SERVICES Joakadom, pipeline services include pipeline integrity monitoring and control services. It is an undisputable fact that oil & gas pipelines are very important in oil supply chain from production well to storage facilities. We provide multi nationals and individuals with direct facilities acquisition, installation, maintenance and management. We are practically driven by commitment to excellence, exceptional quality service delivery, cost effective and value added services. Joakadom Oil Limited Oil and Gas Exploration and production Refining Marketing Supply & trade Marine service Swap lifting Pipe line service Oil and gas engineering Investment and partnership Our future outlook www.joakadom.com We are a company with great base of excellence and doggedness to ensuring maximum satisfaction of our customers, clients/investors.
15. 15 INVESTMENT AND PARTNERSHIP We are a company that appreciates, joint ventures (JTS), partnership and investorments, we account for every form of investment made with our company by second or third party partners or investors. we are always up to the task of keeping our sleeves up and clean. In as much as making direct investment in oil and gas comes with a learning curve we guarantee openness to facts and figures in the course of our mutual relationship. Areas of Investment Development Drilling: Step out or infill drilling may present a significant, low risk opportunity for any investor. Shut in, Stranded Gas, or Abandoned Wells: As a company we see value for tie-ins where others do not. Production Acquisitions or Management Buy Out: Our strategic managers proffers market solutions that identify special opportunities where additional reserves or production maybe brought on in near term. Swap Lifting: Our trading system allows the trade of products and services within the oil and gas industry. Production Optimization: where specific knowledge may increase, optimize or improve or increase production Incremental Production: Volume could be an inevitable setback particularly when demand is high. In this case we source for collaboration. Gas Plants: New or used gas plants, acquiring interests in existing plants or moving modular plants Why Joakadom Oil Limited ?  Over a decade industry experience  Guaranteed investment security  Transparency  10% of repayment of investment between 3 to 10 years. Advantages  Years of normal cash flow  Your investment is less influenced by the ”up and downs” of the stock market and interest rate.  Diversification of investment portfolio Joakadom Oil Limited Oil and Gas Exploration and production Refining Marketing Supply & trade Marine service Swap lifting Pipe line service Oil and gas engineering Investment and partnership Our future outlook www.joakadom.com We are a company with great base of excellence and doggedness to ensuring maximum satisfaction of our customers, clients/investors.