SUN Group formed SUN Energy, a wholly owned subsidiary, to participate in oil and gas exploration and production assets. SUN Energy’s strategy has been to create value for its stakeholders by building a portfolio of high quality assets using its principal competitive advantages of proven operating skills, privileged access and an enlightened investment approach.
Since 2006, SUN Energy has made direct investments in the Russian gas business and also set up Suntera Energy to own and operate Oil & Gas blocks in other parts of the world, with a primary focus on Africa and India/Asia. In these markets, integrated oil and gas projects have historically been the domain of the international majors, but of late National Oil Companies (NOCs) and emerging regional players are seeking a more active role in developing such projects. Suntera works with these NOCs and regional players as a constructive partner bringing technical expertise, commercial structuring solutions, and established resource-to-market relationships. These in turn are supplemented by its strategic partners, global capital and experienced teams of management and investment professionals.
Suntera Resources Limited was formed in 2006 as a 50:50 joint venture between SUN Energy and a Russian gas company. In March 2011, SUN Energy acquired a 100% stake in Suntera. Suntera was set up with an objective to obtain privileged access to discovered oil and gas opportunities in emerging countries, and it indeed successfully acquired and operated upstream oil and gas assets in Nigeria.