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Virtually there is nothing known about Nobel other than that it does some prospecting in the Caspian Sea and has links with Azerbaijan’s state oil company. Nobel and a clutch of other little-known companies bet for licenses when the ministry submits 18 onshore blocks for development this past year. A firm registered in the Central American country of Panama called Geopetrol International Holdings secured a license for another stop which it will operate with Burmese partner A-1 Mining Company.
Panama is notorious for providing so-called flags of convenience for murky shipping companies which do not comply with international safety requirements and regulations. Tianjin New Highland seems to have started life in Hong Kong but is signed up in the amount of money-laundering tax haven of the British Virgin Islands in the Caribbean. It works under the name Tianjin Energy Resources also. “These are by no means mainstream oil businesses and the ownership of some of them is quite lost in the web of addresses and registrations,” said an industry analyst in Hong Kong who didn’t wish to be identified. “Take Geopetrol International for example.
Geopetrol already operates some form of a with Goldpetrol, a subsidiary of Interra Resources of Singapore, which includes links with Indonesia actually. These webs can be extensive, leaving anyone seeking information on ownership bemused and confused. Another little-known Indonesian firm, Istech Resources Asia, has been named by the Burmese Energy Ministry as being successful in obtaining an onshore license, though it appears a local partner continues to be being arranged.