Mr. Tein Jack-Rich, ispresident & founder, Belemaoil Producing Ltd, the first indigenous oil exploration and production company in Nigeria to spring from an oil producing community in the Niger Delta.Belemaoil is the operator of five oil fields of OML 55 under NNPC/Belemaoil JV, with NNPC holding 60 percent and Belemaoil 40 percent. The company’s business is exploration,development and production of hydrocarbons to maximize the full value-chain ranging from production, refining, gas processing, power generation, petrochemical products, fertilizer production and more.
Dr. Elizabeth Jack-Rich, the wife of the oil and gas mogul, amplifies his operations in her energy and infrastructure investment conglomerate – Elin Group Limited, which she is the founder. The Group has diverse business interests in real estate development, power generation, agricultural operations, gas utilization, mining operations, maritime and the aviation sectors. The company has established footprints across the West African sub-region and the United States of America.
Tein has a great purpose for his role in the oil and gas industry not for himself but for the nation. For him, earnings from oil and gas serve as an economic catalyst for large scale industrial growth able to liberate Nigeria from the lowly position of a commodity exporter in the global economy.
He is out with Belemaoil to do everything possible to elevate Nigeria to its full potentials of a large producing and exporting nation. He is impacting society around him to impact the nation towards building an economically powerful nation, churning out job opportunities and ending the flow of economic migrants to other nations.
In consideration of his background, Tein could have been the least of people who would have such an unalloyed devotion to patriotism. At the age of 10, he had lost both parents and without anyone to care for him and the other siblings of his late parents, he suffered the most chronic level of penury. Due to hardship and no medical care, he also lost his two-year old younger brother.
Tein, as a young boy, spent years paddling canoes into the far ocean fishing from day through the night without a single sleep – a job meant for adults. Toiling day and night in the sea, defying the aggressive waves of the sea and all manner of menial jobs were for many years the lifestyle of an orphan-boy, deprived of modern-day socialization.
Yet, he is today powerfully impacting society from which he did not receive. Through his foundation, he has trained hundreds of people through scholarships in Nigeria and in many other countries around the world. He has provided for his community the best portable drinking water – the first time a community of over 600 years of existence would have a taste of good water. He has embarked upon road construction to link up isolated riverine communities. He employs over 2000 Nigerian youth and is working to lift another 12,000 as ambassadors of wealth creation nationwide.
Elizabeth runs her Elin Group through subsidiary companies designed to advance the business interests of the group by providing industry leadership in every sector they operate. Elin Oil Services Limited is a cutting-edge oil and gas servicing and asset exploration, development, production and marketing company positioned to extend the value chain of the oil field operations of Belemaoil.
It is a one-stop shop for oil services operations spanning the entire spectrum from engineering procurement and construction, oil prospecting, well drilling to oil production projects. Here Elizabeth builds and houses the expertise for exploration of oil and gas assets, onshore and offshore services, marketing and distribution of petroleum products.
Elin Oil E&P division takes on the entire spectrum of the oil & gas value chain; engaging in the marketing, sourcing, acquisition and development of production capacity of diverse profitable oil and gas infrastructures and products.
Netanela Limited, a member of Elin Group, specializes in the mining of natural resources, agricultural development, real estate development as well as aviation leasing and fractional ownership. The agricultural division of the company specializes in industrial farming and provides support to farmers in making data-based operational decisions to optimize yield and boost revenue.
The mining division helps clients optimize head grades and increase tonnage; analyzes and reduce risk, improve safety and manpower requirements. The real estate division provides pre-planning, design, construction, engineering and management expertise that assure best possible outcomes in building quality and returns.
Tein embraced education to build intellectual capacity that powered him to rise from zero level to the commanding heights of Nigeria’s oil and gas industry. He studied petroleum production technology in Panola College Cartage, Texas, USA and business administration at University of Wales. He also studied business management at Usam University with several fellow and doctorate awards within and outside Nigeria.
OML 55, located 40 kilometres west of Bonney Terminal, was previously operated by NNPC/Chevron Joint Venture but handed over to Belemaoil Producing Limited in joint partnership with NNPC in 2015. The block extends 65 kilometres from east to west with five producing fields presently yielding a range of 9,000 – 14,000 boepd and more than 70 mmscfd recoverable volume of gas.
Tein also has in place subsidiary companies positioned to provide oil and gas related services such as pipeline works, oil field personnel supply, oil producing facilities upgrade and gas processing facilities installation. Others are involved in production operations profiling for oil flow optimization both offshore, swamp and onshore for international oil and gas operators and service providers.
He has embarked upon an aggressive exploration and development activities at OML 55 oil block, which has an estimated hydrocarbon reserve of circa 350 mmboe. He has deployed state-of-the-art technologies in seismic surveys and field development optimization methods to evaluate deeper opportunities. The massive seismic campaign is planned to deliver quality seismic products within 3 years of continuous operation. AtBelemaoil, Tein has at his command the expertise to optimize and deliver value throughout the entire hydrocarbon exploration and production chain.
Tein and Elizabeth have developed one of the longest value chains in oil and gas and associated industries, even beyond Nigeria. The wealth that they command has made them one of the respected power couples in the country. They are not stockpiling the wealth but are placing it in motion to create wealth for others. ‘’I’m not the owner of the wealth brought into my care; it is to impact generations positively”, Tein said.
The couple is making the positive impact across Nigeria. They have made footprints of industrial type portable drinking water in struggling communities across a growing number of states of the federation. The projects have been completed in a number of the states and are ongoing or in prospect in other states.