Synergia Energy Ltd. (SYN)

Overview

Synergia Energy Ltd, formerly known as Oilex Ltd, is a company that focuses on the exploration for, appraisal, development, production, and sale of oil and gas resources. The company has a strategic interest in the Cambay field, which is situated in the onshore Cambay basin in Gujarat, India, where it holds a 100% interest. Synergia Energy Ltd underwent a significant rebranding in July 2022 when it changed its name from Oilex Ltd to better reflect its evolved business focus and aspirations within the energy sector. Incorporated in 1997, the company is headquartered in Perth, Australia, signifying its broad geographical reach and commitment to exploiting energy resources efficiently while being environmentally conscious and promoting sustainable practices in the industry.

Products and Services

• Exploration Services

  Synergia Energy Ltd provides comprehensive exploration services that involve the search for oil and gas resources. This process includes geological surveying, seismic data acquisition, and analysis to identify potential hydrocarbon reserves. The company's expertise in exploration techniques and commitment to using state-of-the-art technology facilitate the efficient discovery of oil and gas resources, making it a valuable service for the energy sector.

• Appraisal Services

  Following the discovery of potential oil and gas reserves, Synergia Energy Ltd offers appraisal services to evaluate the commercial viability of these resources. The appraisal process includes drilling of further wells to gain more detailed information about the size, composition, and quality of the hydrocarbon find. This critical phase ensures that investments are made in fields that offer viable extraction opportunities, enhancing the company's role in transforming initial discoveries into profitable ventures.

• Development and Production

  Once a reserve has been appraised positively, Synergia Energy Ltd engages in the development and production of these oil and gas fields. Development activities include the design and construction of well architectures, production facilities, and the installation of necessary infrastructure to extract, process, and transport hydrocarbons. Production services entail the actual extraction of oil and gas, employing efficient recovery methods and technologies to maximize output while minimizing environmental impact. This represents the core business function of Synergia Energy Ltd, highlighting its capacity to not only discover and appraise but also to commercially extract and sell hydrocarbon resources.