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Introduction

POLY-GCL Petroleum Group Holdings Limited (“POLY-GCL”) is an integrated mixed ownership clean energy enterprise specializing in exploration and development,storage,transportation and processing,trading, sales and terminal utilization.

The "Ethiopia-Djibouti Oil and Gas" project of the company includes oil and gas exploration and development,long-distance pipelines, natural gas liquefaction plant and terminal construction. The natural gas produced is transported from Ethiopia to Djibouti through pipelines and shipped to the end market after liquefaction. The planned investment for first phase reaches US $4.3 billion.  A 3 million-tonne LNG production line will be built in 2021 and the production capacity will gradually expand to 10 million tonne.

  • 3,000+

    Human Resources

  • Natural Gas

  • Sales to Europe and Asia-Pacific

    Global Trade

Chairman’s Message

All the GCL oil and gas people are working hard and moving forward with burden. It is the outstanding performance of all the GCL people which makes the GCL oil and gas flag fly high at home and abroad, making the mid and long-term planning of the oil and gas business consistently carried out with supreme strategy. We also become the pillar business of GCL Group’s third strategic transformation, lighting up new hopes.

We must continue to uphold the vigor and vitality of entrepreneurship and continue to express the energies and vitality of innovation. We should never wait and see, slack off, and forget our original heart.  We should be the value creators and problem solvers at all times.  We should always bear in mind our vision and mission, and to lead the way with forward thinking and cutting-edge technologies, so as to make unique contributions to the sustainable development of GCL Group.

New era calls for new actions.  All GCL oil and gas people must unite in the coming years, make persistent efforts, seize opportunities, and roll up our sleeves in up spirit and high professional quality, and strive to begin the full scale construction work for up-mid-down stream and generate some cashflow income in next year.  We strive to establish a complete oil and gas industrial value chain with GCL characteristics

Chairman Barton Yu

Corporate Culture

  • Vision

    Be committed to developing clean energy and continually improving the living environment of human.

  • Mission

    POLY-GCL strives to build a first-class international oil and gas company, cultivating top-notch talents and making the best contribution. We will expand our business to cover other overseas resources based on our current business in Africa, participate in and win international competition and try our best to bring benefits to our shareholders and make contributions to the society and environment.

  • Value

    Be Truthful, Efficient and Innovative.

Milestones

2012
2013
2014
2015
2016
2017
2018

2012

On November 7th, 2012,POLY-GCL Petroleum Group Holdings Limited was incorporated。

2013

On November 16th ,2013, POLY-GCL signed Petroleum Production Sharing Agreement with the Ministry of Mines of Ethiopia.

2014

On January 7th, 2014, POLY-GCL signed cooperation framework agreement with the Ministry of Energy and Natural Resources of Djibouti.

On July 17th, 2014, POLY-GCL signed memorandum of cooperation with China Petroleum Pipeline Bureau.

2015

On July 9th,2015, the ‘Ethiopia-Djibouti oil & gas’ project of POLY-GCL was listed in the Belts and Road Initiative project reserve pool.

On September 4th,2015, chairman Yu Baodong and the then Minister of Mine of Ethiopia H.E. Tolesa Shagi signed Pipeline Framework Agreement at the Great Hall of the People in Beijing, witnessed by both prime ministers of China and Ethiopia.

On September 8th,2015, the spud-in ceremony of the first well Calub-11 of POLY-GCL was held successfully at Calub well site.

2016

On March 3rd,2016, the foundation stone laying ceremony for POLY-GCL’s LNG project in Djibouti was held.

On April 19th,2016, the installation of pilot production equipment for Calub-11 well was completed successfully and the well test and pilot production were formally launched.

In October 2016, the project was included in the list of the Planned Major Energy Projects of the Belt and Road Initiative Cooperation 2016 issued by National Development and Reform Commission.

On December 21st,2016, POLY-GCL and China-Africa Capacity Cooperation Fund formally signed subscription and shareholder’s agreement of Ethiopia-Djibouti oil & gas project and the investment amount is up to USD 200 million.

2017

In January 2017, the Department of Foreign Capital under National Development and Reform Commission issued support letter to include the Ethiopia-Djibouti oil & gas project of POLY-GCL in the list of the first batch of projects of China-Ethiopia production capacity cooperation.
On April 6th,2017, chairman of POLY-GCL, Yu Baodong and the deputy director of the Project Appraisal Department I of China Development Bank discussed the development of Ethiopia-Djibouti oil & gas project and matters related to financing.
From May 14 to 15,2017, Chairman Zhu Gongshan, on behalf of overseas oil and gas projects, attended the Forum on the Belt and Road Initiative Cooperation held in Beijing and POLY-GCL was successfully included in the list of Forum companies.
On September 2nd,2017, the first horizontal well Calub-CH1 of POLY-GCL was spud in.
On November 15th,2017, POLY-GCL and Djiboutian government signed MOU related to commercial terms of Djibouti pipeline and LNG investment agreement.

2018

 

On January 16th,2018, chairman of GCL Group, Zhu Gongshan held talks with the prime minister of Ethiopia, Hailemariam Desalegn and signed pipeline development agreement.
On January 17th,2018, chairman of GCL Group, Zhu Gongshan led a delegation to visit and negotiate with the president of Ethiopia Mulatu Teshome on how to jointly promote the development of Ethiopia-Djibouti oil & gas project.
On January 22nd,2018, chairman of GCL Group, Zhu Gongshan who was then visiting Djibouti led a delegation to meet the president of the Republic of Djibouti, Ismail Omar Guelleh and both parties agreed to strengthen the strategic cooperation in the energy sector and actively implemented a number of consensus reached by the presidents of the two countries during their meeting in Beijing in November.
On March 23rd,2018,the“POLY-GCL well logging support center” set up by POLY-GCL was formally established in CNPC Logging Company.
On March 31st,2018, BGP reserve and valuation report was completed.
On May 8th,2018, chairman of GCL Group, Zhu Gongshan led a delegation to visit the Ministry of Mines of Ethiopia and held talks with the newly appointed minister Meles Alemu to discuss topics relating to the rapid and sound development of the POLY-GCL oil and gas project.
On May 13th,2018,the president of Djibouti Ismail Omar Guelleh met the chairman of GCL Group Zhu Gongshan at the Office of the President, and both parties conducted comprehensive discussion on a package of cooperation projects in energy production and application sectors in Djibouti and signed gas pipeline project development agreement.
On June 28th,2018, the production ceremony for crude oil pilot production project of POLY-GCL was held and the first barrel of crude oil in Ethiopia was produced successfully.
On July 4th,2018, Ethiopia-Djibouti oil & gas project of POLY-GCL achieved the export of the first truck of crude oil.