Roc Oil

What Roc Oil does

Roc Oil is an Australian-headquartered independent upstream oil and gas company operating across the full E&P lifecycle: exploration, appraisal, development, and production. Its business is organized around working interests and operatorship roles in producing and development assets across four regions — China (Beibu Gulf, Pearl River Mouth Basin, Sichuan Basin), Malaysia (Sarawak offshore), Oman (Blocks 3&4, 49, 56, 58), and Australia (historical). The company holds 100% operatorship at the onshore Bajiaochang tight gas field in Sichuan and at Oman's Blocks 49 and 58, and operates Weizhou 10-3W (35%), Huizhou 12-7 (50%), and Block 56 (65%); in other assets it serves as a non-operating working-interest partner and, in D35/D21/J4 offshore Sarawak, as project development manager.

The company's underlying technology comprises specialized offshore marginal oil field development solutions, patented well-seismic integration modeling (CNIPA National Invention Patent for a method using Drilling Index Dx), proprietary economic evaluation and sedimentary facies prediction systems, and an eight-element HSE Management System with full lifecycle Asset Integrity Management. These capabilities support drilling accuracy, reservoir identification, and mature-field redevelopment that has repeatedly out-performed plan (e.g., WZ12-8W/6-12 at 2.28x ODP target, BJC gas production up ~396% under ROC operatorship since 2021).

Roc Oil generates revenue from sales of crude oil, natural gas, and associated petroleum products derived from its operated and non-operated working interests, with revenue allocation determined by PSC terms with NOC partners. It monetizes assets by acquiring producing and near-term development properties, providing operator or project development manager services to NOC partners, and reinvesting in exploration and brownfield redevelopment. Since 2019 the company has operated as a wholly-owned subsidiary of Hainan Mining Co. Ltd (itself controlled by Fosun International) following the 2024 acquisition of Tethys Oil AB, which added Omani acreage and materially expanded the production and reserve base.

Name

Roc Oil

Legal name

Roc Oil Company Pty Limited

Website

https://rocoil.com.au

Company type

Private

Founded year

1997

Operating status

Operating

Headcount range

51–100 employees

Short description

Roc Oil is an Australian-headquartered independent upstream oil and gas company that explores, develops, and produces oil and gas as operator and joint-venture partner with National Oil Companies across China, Malaysia, Oman, and Australia.

Ownership category

akta.pro rank

Headquarters

HQ city

Sydney

HQ country

Australia

HQ region

Oceania

Offices7 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Infrastructure, Supply Chain

Revenue model

1. Oil and Gas Production Sales: ROC generates revenue primarily through the sale of produced crude oil, natural gas, and associated petroleum products from its operated and non-operated working interests across China, Malaysia, and Oman.
2. Joint Venture Working Interest Revenue: As a working interest partner (ranging from 19.6% to 100%) in producing assets with NOC partners (CNOOC, PetroChina, PETRONAS), ROC receives production allocation proportional to its equity stake in each joint venture.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Roc Oil is an independent upstream oil and gas company engaged in the exploration, development, and production of crude oil and natural gas from offshore and onshore fields in China, Malaysia, Oman, and Australia. Its portfolio includes offshore marginal oil fields, tight gas fields, and operated blocks under production-sharing contracts and joint-venture arrangements with National Oil Companies.

Product overview

Roc Oil is an independent upstream oil and gas company providing full-cycle exploration, appraisal, development, and production services. The company operates across China, Southeast Asia, Middle East, and Australia. Core products include producing oil and gas fields (Bajiaochang Gas Field, Weizhou 6-12/12-8 Oilfields, D35/D21/J4 Oilfields, Oman Blocks 3&4), development projects (Weizhou 10-3 West Area, Oman Block 56), and exploration projects (Huizhou 12-7 Oilfield, Oman Blocks 58 and 49). The company also offers technology services including patented well-seismic integration technology using Drilling Index (Dx) for geosteering and reservoir identification, along with economic evaluation and geological prediction systems. Operations span offshore and onshore environments with a focus on marginal field development and redevelopment of mature assets.

Differentiator

Problem solved

Functional benefit

Products and services

• Bajiaochang Gas Field (China) Upstream natural gas production asset operated by Roc Oil in China under PSC/JV arrangement, with gas feeding LNG processing facilities.
• Weizhou 6-12 / 12-8 Oilfields (China) Offshore oil production assets in China operated by Roc Oil.
• Weizhou 10-3 West Area Development Project (China) Offshore oil field development project in China operated by Roc Oil.
• Huizhou 12-7 Oilfield (China) Offshore oil production asset in China operated by Roc Oil.
• D35 / D21 / J4 Oilfields (Malaysia) Offshore oil fields in Malaysia operated and optimized by Roc Oil.
• Oman Block 3 & 4 Upstream exploration and production block in Oman operated by Roc Oil.
• Oman Block 56 Upstream exploration and production block in Oman operated by Roc Oil.
• Oman Block 58 Upstream exploration and production block in Oman operated by Roc Oil.
• Oman Block 49 Upstream exploration and production block in Oman operated by Roc Oil.

Quantifiable outcome

• BJC gas field daily production increased from 0.86 million m³/day to 4.26 million m³/day (396% increase) under ROC operator leadership since 2021
• +6 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature6 records

Partnerships

Eight partnerships are on record, tiered core, major and supporting.

• Tethys Oil ABcoreStrategic or Co-development Partner · 1 December 2024ROC completed the tender offer acquisition of Tethys Oil AB in December 2024. Tethys Oil is an oil E&P company with interests in four onshore oil fields in Oman covering approximately 60,000 sq km. The acquisition increased ROC's crude oil net equity reserves by 123% and production by 140%, extending the contract period by over 10 years. Tethys Oil had been active in Oman since 2006.
• CNOOC Energy Technology & ServicesmajorStrategic or Co-development Partner · 1 December 2024CNOOC Energy Technology & Services partnered with ROC on the Weizhou 10-3 West Area Development Project, collaborating on the design and construction of the Offshore Oil 166 self-installing production and processing platform. The project achieved FID in April 2024 and entered the development phase.
• Wuhu ShipyardmajorStrategic or Co-development Partner · 1 December 2024Wuhu Shipyard (based in Nantong) was responsible for constructing the Offshore Oil 166 self-installing production and processing platform for the Weizhou 10-3 Oilfield West Area Development Project. Construction began December 9, 2024, at Wuhu Shipyard's Nantong base and was completed in 15 months with 3.2 million man-hours.
• LanKe High-TechsupportingTechnology or Integration · 1 December 2024LanKe High-Tech was part of the project team (alongside ROC, CNOOC Energy Technology & Services, Wuhu Shipyard, and more than ten professional teams) for the Weizhou 10-3 West Area Development Project, contributing specialized technical expertise to the platform construction and commissioning.
• Oman Ministry of Energy and MineralscoreStrategic or Co-development Partner · 1 November 2024The Oman Ministry of Energy and Minerals approved the Field Development Plan for Block 56 in November 2024, after which the block was declared commercial. Development of Block 56 is scheduled to commence in 2025, with a second production stream anticipated in 2026.
• PetroChinacoreStrategic or Co-development Partner · 1 May 2021ROC acquired 100% working interest and operatorship of the Bajiaochang tight gas field in the Chuanzhong Block of the Sichuan Basin in May 2021. PetroChina holds the original petroleum contract. ROC increased daily gas production from 0.86 million m³/day to 4.26 million m³/day and constructed DPP and LNG processing facilities.
• PETRONAS Carigali Sdn BhdcoreStrategic or Co-development Partner · 1 January 2014PETRONAS Carigali is the operator of the D35/D21/J4 PSC offshore Sarawak, Malaysia. ROC holds a 30% participating interest and serves as project development manager, responsible for subsurface management, well engineering, new facilities projects, production optimization, and field redevelopment execution. The PSC terms are designed for field redevelopment and enhanced oil recovery.
• CNOOC (China National Offshore Oil Corporation)coreStrategic or Co-development Partner · 1 December 1999CNOOC is ROC's primary joint venture partner in China's offshore Beibu Gulf Basin and Pearl River Mouth Basin. ROC holds working interests in WZ6-12, WZ12-8W, WZ12-8E, WZ10-3W, and Block 03/33/Huizhou 12-7 through petroleum contracts with CNOOC. CNOOC serves as operator for WZ6-12 and WZ12-8 fields, while ROC is operator for WZ10-3W and Huizhou 12-7. The partnership dates to 1999 when the Block 22/12 oil contract was signed.

Scale indicators18 records

Recent moves10 records

Expansion highlights6 records

Direct peers

• Hibiscus Petroleum: Malaysian-headquartered independent upstream E&P focused on marginal oil field development (North Sabah, Peninsula Malaysia). Operates as JV partner with PETRONAS on production sharing contracts, directly comparable to ROC's JV-driven Asia-Pacific upstream model and similar mid-cap scale.
• Cooper Energy: Australian small-mid cap upstream E&P with gas-weighted production and JV participation. Comparable in size, geography, and JV-led operating model, with overlapping focus on production optimization and offshore/onshore field redevelopment.
• Jadestone Energy: Asia-Pacific focused independent upstream E&P with producing assets in Australia and operations/markets across Southeast Asia. Similar small-mid cap profile with JV partnerships and focus on producing asset optimization.
• Carnarvon Energy: Australian small-cap upstream E&P with exploration and appraisal assets in Australia and Timor-Leste. Similar size, listed history (ROC was previously ASX-listed), and Asia-Pacific upstream focus with JV-driven business model.
• Beach Energy: Australian upstream E&P with diversified production and development assets. Comparable size to ROC's combined portfolio with overlapping focus on production optimization and onshore/offshore asset mix in Australia and the region.
• Senex Energy: Australian small-mid cap upstream E&P (now part of POSCO International group), with similar asset profile and joint venture involvement in producing fields. Comparable corporate structure as a subsidiary of a larger diversified group.

Broad incumbents

• Woodside Energy: Major Australian-headquartered upstream operator with global LNG and oil portfolio. Larger incumbent in the same Australian upstream sector with overlapping Asia-Pacific development focus and significantly greater scale.
• Santos: Major Australian upstream E&P with diverse Asia-Pacific portfolio including LNG, conventional oil and gas, and CCS. Larger incumbent operating in ROC's home market with overlapping customer relationships in the regional energy value chain.
• INPEX Corporation: Major Japanese upstream E&P with Asia-Pacific and global operations, including LNG and oil production. Larger incumbent operating in similar Asia-Pacific upstream segment with overlapping regional JV partnerships and NOC relationships.

Regional players

• Sapura Energy: Malaysian-headquartered integrated energy services and upstream operator with overlapping JV partnerships in Malaysia. Comparable regional player in Malaysian upstream activities, though with broader services and drilling scope.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/roc-oil-company-limited

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries6 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Roc Oil