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The company is a group holding company for the
subsidiaries set out below. The following chart depicts the Company's summarised corporate
structure and includes all companies in the PetroProd Group. All ties are wholly owned.
The official liquidation of PetroProd Ltd does not of itself cause the subsidiaries automatically to fall into insolvency or liquidation.
Below is a description of the companies in the PetroProd Group.
PetroProd Ltd.
PetroProd Ltd. is the parent company of the PetroProd Group and its management is located in Singapore, however, all communications in respect of PetroProd Ltd should be directed to the Joint Provisional Liquidators. The Company was incorporated on 1 December 2006 in the Cayman Islands.
PetroProd 1 Ltd.
PetroProd 1 Ltd. is an exempted limited company incorporated in the Cayman Islands on 15 January 2007. Petroprod 1 Ltd. is the owner of the vessel MT Arc (to be renamed PetroProd 1 FPSO). The FPSO conversion is currently on-going at Jurong Shipyard in Singapore. The completion date is targeted in 4Q 2009.
PetroProd 2 Ltd.
PetroProd 2 Ltd. is an exempted limited company incorporated in the Cayman Islands on 15 January 2007.
PetroProd 3 Ltd.
PetroProd 3 Ltd. is an exempted limited company incorporated in the Cayman Islands on 15 January 2007.
PetroProd D&P 1 Ltd.
PetroProd D&P 1 Ltd. is an exempted limited company incorporated in the Cayman Islands on 15 May 2007. PetroProd D&P 1 Ltd. is the owner of the CJ70 Jackup Project. The completion date for the CJ70 Jackup is targeted in 2Q 2010.
PetroProd D&P 2 Ltd.
PetroProd D&P 1 Ltd. is an exempted limited company incorporated on 25 June 2008.
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