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by The Empire of Tertania. . 34 reads.

Sonaco

Overview

Sonaco, officially Sonaco Oil and Gas, is a Tertanian oil and gas company headquartered in Isonphis, Tertania. It is the largest oil and gas company in Tertania and one of the largest companies in the world. Sonaco operate in all areas of the oil and gas industry, including exploration and extraction, refining, distribution and marketing, power generation, and trading.

As of 1 January 2020, Sonaco operated in 74 countries across the Confederation, produced 3.5 billion barrels of oil per day and had total proven reserves of 18.3 billion barrels of oil equivalent. The company has around 14,300 service stations worldwide.

Sonaco's origins date back to 1811 when the South Usean Mining Company was established by the Tertanian Empire to exploit resources in the south Usean colonies. When the Treaty of Sib Ramesh was signed in 1859, the South Usean Mining Company heavily cut back on operations in Minoria, Rwani, Telgerria and Khazhatistan. Upon the discovery of oil just one year later, Sonaco was set up as a branch of the South Usean Mining Company and was originally named the Tertanian Oil and Energy Company. in 1933, the Tertanian government set up the Tertanian Energy Agency and the Tertanian Oil and Energy Company figured that the names might get confused with each other and thus renamed the company Sonaco Oil and Gas.

From 1987 to 2010, Sonaco were responsible for 1.7% of global greenhouse emissions. As Tertania became more eco-friendly, pressure mounted on Sonaco to reduce their emissions. Sonaco took action and of 1 January 2022, now contribute only 0.9% of global greenhouse emissions. Sonaco have directly been involved in several major environmental and safety disasters. Among these were the NF Refinery explosion which killed 22 workers and resulted in one of the biggest corporate fines seen in Tertanian history; and Tertania's fourth largest oil spill, the split of the Southern Traveller in 1977.

Sonaco were also at the heart of the 2014 EH3 disaster which remains one of the largest accidental releases of oil into marine waters in history. Nearly 4.3 million barrels of oil leaked into the eastern Hakon Sea which caused severe environmental, human health, and economic consequences and serious legal and public relations repercussions for BP. Sonaco used the most oil dispersant seen in history for the cleanup. The company pleaded guilty to 13 counts of felony manslaughter and agreed to pay 6 billion Tertanians in fines and penalties which is the largest criminal resolution in Tertanian history. In total, the oil spill cost Sonaco more than 70 billion Tertans in cleanup costs, charges, and penalties.

Sonaco has a primary listing on the Isonphis Stock Exchange.

Revenue and barrels produced

At the end of 2021, Sonaco released their yearly financial statement which reported they had a gross income of 32 billion Tertans for 2021. Around 22 billion came from their oil operations and the other 10 came from natural gas.

Sonaco produce around 3.5 million barrels of oil per day along with 7 billion cubic feet of natural gas.

Operations

Sonaco operate in 74 countries across the Confederation. Most of Sonaco's oil comes from the Hendrix Sea and the Tertanian South Usean Protectorate (Al-Agir) whereas their natural gas production comes from the Icarus Sea.


Map of oil rigs in the Icarus Sea and the Hendrix Sea. Red dots shows the largest oil rigs that produce over 200,000 barrels a day, orange show
medium-sized oil rigs that produce between 140,000-200,000 barrels a day and yellow show small oil rigs that produce between 80,000-140,000 barrels a day.
Not all oil rigs shown are owned by Sonaco.

Chief Executive Officer

Sonaco's Chief Executive Officer (CEO) is the Minoria-born Richard Stuyvesant who has been leading the company since 2015.


Richard Stuyvesant's company portrait.


News

Sonaco strike deal with CDF

Following lengthy discussions, Sonaco, Tertania's leading oil and gas supplier, has struck a deal with the Confederation Defence Forces to supply part of their oil requirements. This number stands at 15% of the CDF's total requirement, equivalent to around 3.4 million barrels a month or 41 million barrels a year. The fee remains undisclosed. Sonaco executives met with representatives from the Confederation Defence Force and the Tertanian Government at the Usean Commerce Building just outside Isonphis to discuss and plan out the deal. The meeting was closely watched by many press officers.


The Usean Commerce Building where the three parties met

Sonaco partner with Titran to establish the TitranSonaco Racing Team

On 6 April, Sonaco announced a major partnership with car manufacturer Titran to establish a racing team or 'manufacturer' for national, Usean and international Formula competitions. While Titran have participated in the competitions before, the partnership with Sonaco will bring in more money and experience to boost the team even further. Sonaco will also now make highly optimised fuel for the TitranSonaco racecars.


A TitranSonaco Y6


TitranSonaco driver Ryan Henry, #71


TitranSonaco driver Jeff Baker, #77


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