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The Solite Oil Company Inc.
In 1945 the Solite Oil Company Inc. was established. The Company activities had extended to include exploration operations, on-shore and off-shore surveys, drilling of test wells, and developing of producing fields in addition to crude and natural gas exploration. In 1950 oil was found in commercial quantities . In June 1956 Mr. John Powel , the late CEO, inaugurated our export of the first crude shipment. New fields were developed and export facilities were expanded, resulting in the construction of the North and South Piers, the Sea Island, and the Single Point Mooring. In 1980 the UK Government took over 100% of the Solite Oil Company. In 1982 Solite Petroleum Corporation was established to bring all state owned oil companies under one entity. Solite was devastated by the invasion in 1991. However after liberation on 27.3.1992 and within months, production gradually returned to full capacity. Super light crude oil was discovered in 2005. The discovery of the API 52 crude oil represents a big jump in the companys exploration abilities. In 2007, gas was discovered in the deep. These discoveries fulfill a long UK dream of becoming self-sufficient in gas which will be used for power generation.
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