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Company type | Private |
---|---|
Industry | Petroleum industry |
Founded | 2005 |
Founder | David Martinon, Michel Louboutin, GMS Holdings |
Headquarters | Bucharest , Romania |
Area served | Romania, Ukraine |
Key people | David Martinon, Michel Louboutin |
Services | Production enhancement of mature oil and gas fields |
Number of employees | 1,000 |
Website | https://www.xp-group.com/ |
Expert Petroleum, also known now as XP. [1] [2], is an international oil and gas service company, engaged in field operatorship and oil and gas production on mature fields [3].
It employs over 1,000 people [2] through its subsidiaries. XP currently operates 28 oil and gas fields – 15 in Romania for OMV Petrom [4], and 13 in Western Ukraine for UkrGasVydobuvannya [5]. XP is a member of GMS Holdings Group [6] [7].
Expert Petroleum was founded in 2005 [8] by Michel Louboutin and David Martinon [2].
In 2009 XP attracted USD25 million from Lime Rock Partners, a global energy-focused private equity firm, to further appraise and develop eight mature field licenses, previously acquired in Romania [9].
In 2010 MOL and Expert Petroleum signed its first Production Enhancement Agreement (PEC) to re-develop and rehabilitate the gas and condensate reservoir, namely the Sarkadkeresztúr ( Hungary) and Salonta ( Romania) fields in joint efforts [10] [11].
In 2012 Expert Petroleum has signed a 15-year Production Enhancement Contract with OMV Petrom for 13 mature oil and gas fields in Western Romania, near Timisoara. The fields were producing around 2,400 boe/day (circa 1.5% of total OMV Petrom production in Romania) at the time. The contract followed the model of the previous production enhancement contracts that OMV Petrom had [12].
In 2013 the founders of Expert Petroleum and GMS Holdings through mezzanine financing from Syntaxis Capital, bought out Lime Rock Partners shares [13]. The company is since then fully owned by the management and GMS Holdings [11] [7].
In 2016 Expert Petroleum SPV SARL Luxembourg acquired Petrofac Solutions & Facilities Support SRL Romania [14]. Through this transaction Expert Petroleum took over Petrofac’s Production Enhancement Contract with OMV Petrom in Ticleni area, Gorj county of Romania. The oil fields that were subject to the production enhancement agreement, are mature fields, under exploitation for more than 60 years [15]. The initial contract between Petrofac and OMV Petrom was concluded in 2010 for 15-year initial period with an option for extension by a further ten years [16].
In April 2020 Expert Petroleum signed Production Enhancement Contract (PEC) in the with JSC UkrGasVydobuvannya [17], a fully-owned subsidiary of Naftogaz of Ukraine [18]. The scope of the contract included 13 small fields in Western Ukraine. The contract was concluded for 15 years, with the possibility of extension for another 10 years. Expert Petroleum was agreed to receive a fixed fee for support of the baseline production and for achieving incremental production. The full ownership of the extracted production, geological licenses and assets remained with UkrGasVydobuvannya [19] [20].
XP’s holding company, Expert Petroleum SARL SPV, is incorporated in Luxembourg [21].
In Romania XP has two legal entities, EXPERT PETROLEUM SOLUTIONS S.R.L. [22], and EXPERT PETROLEUM S.R.L. [23], with administrative office in Bucharest. In Ukraine XP has a subsidiary Expert Petroleum Ukraine LLC [24] with administrative office in Lviv [25]
In Romania company’s operations are concentrated in 2 regions – Timis area, Western part of the country, and Ticleni, Gorj area, South-Western part of the country. XP operates 6 fields in Ticleni, and 9 fields in Timis. [4]
In Ukraine XP operates 13 fields in Western part of the country. [17]
XP is a member of the following organizations:
![]() | This article contains paid contributions. It may require
cleanup to comply with Wikipedia's
content policies, particularly
neutral point of view. |
Submission declined on 1 November 2023 by
Ratnahastin (
talk). This submission appears to
read more like an advertisement than an entry in an encyclopedia. Encyclopedia articles need to be written from a
neutral point of view, and should refer to a range of
independent, reliable, published sources, not just to materials produced by the creator of the subject being discussed. This is important so that the article can meet Wikipedia's
verifiability policy and the
notability of the subject can be established. If you still feel that this subject is worthy of inclusion in Wikipedia, please rewrite your submission to comply with these policies.
Where to get help
How to improve a draft
You can also browse Wikipedia:Featured articles and Wikipedia:Good articles to find examples of Wikipedia's best writing on topics similar to your proposed article. Improving your odds of a speedy review To improve your odds of a faster review, tag your draft with relevant WikiProject tags using the button below. This will let reviewers know a new draft has been submitted in their area of interest. For instance, if you wrote about a female astronomer, you would want to add the Biography, Astronomy, and Women scientists tags. Editor resources
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Submission declined on 30 October 2023 by
Paper9oll (
talk). This submission appears to
read more like an advertisement than an entry in an encyclopedia. Encyclopedia articles need to be written from a
neutral point of view, and should refer to a range of
independent, reliable, published sources, not just to materials produced by the creator of the subject being discussed. This is important so that the article can meet Wikipedia's
verifiability policy and the
notability of the subject can be established. If you still feel that this subject is worthy of inclusion in Wikipedia, please rewrite your submission to comply with these policies. Declined by
Paper9oll 8 months ago. | ![]() |
![]() | |
Company type | Private |
---|---|
Industry | Petroleum industry |
Founded | 2005 |
Founder | David Martinon, Michel Louboutin, GMS Holdings |
Headquarters | Bucharest , Romania |
Area served | Romania, Ukraine |
Key people | David Martinon, Michel Louboutin |
Services | Production enhancement of mature oil and gas fields |
Number of employees | 1,000 |
Website | https://www.xp-group.com/ |
Expert Petroleum, also known now as XP. [1] [2], is an international oil and gas service company, engaged in field operatorship and oil and gas production on mature fields [3].
It employs over 1,000 people [2] through its subsidiaries. XP currently operates 28 oil and gas fields – 15 in Romania for OMV Petrom [4], and 13 in Western Ukraine for UkrGasVydobuvannya [5]. XP is a member of GMS Holdings Group [6] [7].
Expert Petroleum was founded in 2005 [8] by Michel Louboutin and David Martinon [2].
In 2009 XP attracted USD25 million from Lime Rock Partners, a global energy-focused private equity firm, to further appraise and develop eight mature field licenses, previously acquired in Romania [9].
In 2010 MOL and Expert Petroleum signed its first Production Enhancement Agreement (PEC) to re-develop and rehabilitate the gas and condensate reservoir, namely the Sarkadkeresztúr ( Hungary) and Salonta ( Romania) fields in joint efforts [10] [11].
In 2012 Expert Petroleum has signed a 15-year Production Enhancement Contract with OMV Petrom for 13 mature oil and gas fields in Western Romania, near Timisoara. The fields were producing around 2,400 boe/day (circa 1.5% of total OMV Petrom production in Romania) at the time. The contract followed the model of the previous production enhancement contracts that OMV Petrom had [12].
In 2013 the founders of Expert Petroleum and GMS Holdings through mezzanine financing from Syntaxis Capital, bought out Lime Rock Partners shares [13]. The company is since then fully owned by the management and GMS Holdings [11] [7].
In 2016 Expert Petroleum SPV SARL Luxembourg acquired Petrofac Solutions & Facilities Support SRL Romania [14]. Through this transaction Expert Petroleum took over Petrofac’s Production Enhancement Contract with OMV Petrom in Ticleni area, Gorj county of Romania. The oil fields that were subject to the production enhancement agreement, are mature fields, under exploitation for more than 60 years [15]. The initial contract between Petrofac and OMV Petrom was concluded in 2010 for 15-year initial period with an option for extension by a further ten years [16].
In April 2020 Expert Petroleum signed Production Enhancement Contract (PEC) in the with JSC UkrGasVydobuvannya [17], a fully-owned subsidiary of Naftogaz of Ukraine [18]. The scope of the contract included 13 small fields in Western Ukraine. The contract was concluded for 15 years, with the possibility of extension for another 10 years. Expert Petroleum was agreed to receive a fixed fee for support of the baseline production and for achieving incremental production. The full ownership of the extracted production, geological licenses and assets remained with UkrGasVydobuvannya [19] [20].
XP’s holding company, Expert Petroleum SARL SPV, is incorporated in Luxembourg [21].
In Romania XP has two legal entities, EXPERT PETROLEUM SOLUTIONS S.R.L. [22], and EXPERT PETROLEUM S.R.L. [23], with administrative office in Bucharest. In Ukraine XP has a subsidiary Expert Petroleum Ukraine LLC [24] with administrative office in Lviv [25]
In Romania company’s operations are concentrated in 2 regions – Timis area, Western part of the country, and Ticleni, Gorj area, South-Western part of the country. XP operates 6 fields in Ticleni, and 9 fields in Timis. [4]
In Ukraine XP operates 13 fields in Western part of the country. [17]
XP is a member of the following organizations: