The company was established in mid 2010.
Following incorporation of Barclays Natural Resources Investment Group (BNRI) on the 1st January 2011 the basic ingredients were in place to move from plans to practice. Tulip Oil moved to strengthen its structure and management team and now boasts a team with over 120 years cumulative experience in all aspects of the EP Business.
From the outset the main focus of Tulip Oil is:
- To redevelop abandoned or mature onshore oil fields (particularly those ‘prematurely’ abandoned).
- To develop onshore stranded oil and gas assets considered unattractive by existing license holders.
- To conduct exploratory appraisal in proven oil provinces.
Tulip Oil focuses on assets where it can add value by proving a given appraisal and development concept.
It was recognised early on that Germany and The Netherlands were the preferred locations to acquire assets given the remaining potential for onshore reserves in addition to supportive fiscal regimes.
Tulip Oil today remains focussed and committed to its mission. As success in Germany and The Netherlands takes root, Tulip Oil is looking to expand its portfolio in Western Europe and further abroad.