Emerald Energy plc is an energy exploration subsidiary of Chinese state-owned company Sinochem with headquarters in London but is registered offshore in the Isle of Man. The company specialises in oil exploration and production of hydrocarbons. Formerly listed on the London Stock Exchange and a constituent of the FTSE 250 Index, the firm was acquired by Sinochem Group in October 2009.
History
The company was established in 1996 when it was first listed on the London Stock Exchange as an oil exploration business.[1] Later in 1996 it secured its first major opportunity at the Matambo field in Colombia. By 1998 it had started drilling at Gigante in the Matambo field.[1]
In May 2000 a serious fire at Gigante put a