Bluegreen Holdings Ltd.

History of the Group.

—  Our global presence.

Bluegreen Holdings Ltd.

Since 1983 – A Private Equity Group focused on energy & natural resources sectors and committed to an energy transition,

a digital transformation and a wider global food security

Business Model – Commitment

• Energy markets are changing, driven by climate change, technology and societal expectations. Over time, energy demand will shift from hydrocarbons to power where renewables are well placed to compete.
• Bluegreen Holdings Ltd is then committed to decarbonization: it is allocating part of its oil profits in a range of renewable energy projects, including wind, solar, geothermal, hydro, biofuel, bioenergy, green hydrogen, pink hydrogen and renewable natural gas and in a range of social projects in low-income (like Mozambique) and lower-middle income economies (like Republic of Congo, i.e. Congo-Brazzaville), including access to affordable & quality education, food & water security, housing, basic infrastructure, healthcare and public health emergency response, etc.
• Bluegreen believes in the development of direct lithium extraction technology to access brine under abandoned oil wells, where the resource is more or less estimated, and most of the drilling has been done.
• Moreover, they may not be in too remote areas without roads and infrastructure like many traditional lithium deposits. This method presents a more sustainable and less harmful approach to traditional mining.
• Demand for lithium is expected to surge as the energy transition progresses, while the West is looking to diversify supply chains away from China’s lithium processing.
• “Direct lithium extraction (DLE) and direct lithium to product (DLP) can be the driving forces behind the industry’s ability to respond more swiftly to soaring demand,” McKinsey & Company said in a report in 2022.
• “Although DLE and DLP technologies are still in their infancy and subject to volatility given the industry’s “hockey stick” demand growth and lead times, they offer significant promise of increasing supply, reducing the industry’s environmental, social, and governance (ESG) foot­print, and lowering costs, with already announced capacity contributing to around 10 percent of the 2030 lithium supply, as well as to other less advanced projects in the pipeline.”
• Africa produces more than 70% of the world’s cobalt (Democratic Republic of Congo-Zambia), 60% of manganese (Gabon and South Africa), 25% of bauxite (Guinea), nearly 15% of copper (“copper belt” of the Democratic Republic of Congo-Zambia), a significant portion of graphite (Mozambique, Madagascar, Guinea).
• The Group which has invested in gold and copper, now invests in precious (gold, silver and platinum) and base metals (ferrous such as iron and non-ferrous such as copper, lead, nickel and zinc, but also there are a range of others such as bauxite for aluminium, tin, molybdenum, cobalt and manganese among others) and high-value minerals of the low emissions future which include indium, germanium, tantalum, platinum group of metals (ruthenium, platinum and palladium), tellurium, cobalt, lithium, gallium, rare earth elements (REE), iron ore, manganese, aluminium, nickel, lead and graphite – which are needed for the development of cleaner technologies as they are used in batteries, wind turbines, solar panels and electronics systems in all kinds of controls – but also uranium (a naturally radioactive ore which can be recycled and from which nuclear energy is produced with CO2 emissions comparable to wind power, two times lower than hydroelectricity, four times lower than solar and 70 times lower than gas; similar to green hydrogen, pink hydrogen is made via electrolysis, but using nuclear energy as its source of power), thorium and beryllium, is also supporting:

– technological innovations developed to support the energy transition, which make use of these various refined ores and metals:

 Advanced (Li-ion) battery technology and Sodium battery technology
Li-ion battery technology is rapidly being deployed for both e-mobility and energy storage for intermittent electricity generation. The technology is increasingly relevant for defence applications.
Requirements:
Copper: as current collector foil at anode side, in wires and other conductive parts.
Graphite: natural or synthetic high-grade purity in anode electrode in all Li-ion battery types.
Silicon: in (future) anodes to enhance energy density.
Titanium: in future anode materials and coatings, in lithium-titanate or lithium-titanium-oxide (LTO), for battery packaging.
Aluminum: for battery packaging or as current collector foil (cathode), in NCA batteries.
Niobium: in future anode and cathode material (coatings) to improve stability and energy density.
Cobalt: in cathode materials in lithium-titanate or lithium-titanium-oxide (LTO), lithium nickel cobalt aluminum oxides (NCA), and lithium nickel manganese cobalt oxides (NMC) batteries.
Lithium: as lithium-cobalt oxide (cathode) and as salt (electrolyte) in Li-ion battery.
Manganese: in cathode materials for lithium nickel manganese cobalt oxides (NMC) and lithium ion manganese oxide (LMO) batteries.
Nickel: as hydroxide or intermetallic compounds in lithium nickel manganese cobalt oxides (NMC), lithium nickel cobalt aluminum oxides (NCA) batteries.
Sodium: can be used instead of lithium.

 Fuel cells
Fuel cells (FCs) are an important energy conversion technology, which together with hydrogen as fuel, will offer a high potential for decarbonisation of the energy system and e-mobility in the future, although large-scale deployment has not yet taken place.
Requirements:
Cobalt: as catalyst replacing the more expensive platinum in Proton-exchange membrane fuel cells (PEMFC), also known as polymer electrolyte membrane (PEM) fuel cells.
Palladium: as catalyst replacing part of Platinum (e.g. as Platinum-Palladium alloy).
Platinum: the most effective electrocatalyst for both the cathode and anode.
Graphite: leading material for construction of bipolar plates.
Aluminium for thermal management of the stack and as base plate material.
Copper: in alloys with Nickel for anode catalyst (solid oxide fuel cell or SOFC) in wires and conductive parts.
Nickel: for coating the bipolar plates, in the composition of stainless steel or as anode.
Strontium: in the composition of anode together with Titanium in solid oxide fuel cell or SOFC.
Titanium: for metallic bipolar plate and as anode composition of solid oxide fuel cell or SOFC.

 Wind turbine generators
Wind energy is already one of the most cost-effective renewable energy technologies for climate-change mitigation and will remain a growing sector in the EU industrial base.
Requirements:
Iron: as cast iron or in steel composition for tower, nacelle, rotor and foundation; in neodymium–iron–boron (NdFeB) permanent magnets.
Chromium: essential for stainless steel and other alloys in rotor and blades.
Manganese: essential for steel production used for many parts of a turbine.
Molybdenum: in stainless steel composition for many components of the turbine.
Nickel: in alloys and stainless steel for different components of the turbine.
Niobium: a microalloying element in high strength structural steel for towers of a turbine.
Aluminium: as lightweight material in nacelle equipment, blades, etc.
Copper: widely used in generator windings, cables, inverters, control systems.
Lead: for soldering or cable sheathing in electricity transmission (offshore).
Boron: in composition of neodymium–iron–boron (NdFeB) magnets or as lubricant.
Dysprosium: important additive of neodymium–iron– boron (NdFeB) permanent magnets.
Neodymium: in neodymium–iron–boron (NdFeB) permanent magnets for electricity generation.
Praseodymium: together with neodymium in permanent magnets.

 Traction motors (permanent magnets)
Electric traction motors are central components in e-vehicles. Permanent magnet motors containing rare earth elements are particularly efficient and attractive for current and future e-mobility applications.
Requirements:
Boron: in composition of neodymium–iron–boron (NdFeB) magnets.
Dysprosium: important additive of neodymium–iron– boron (NdFeB) permanent magnets.
Neodymium: in NdFeB permanent magnets in the motor’s rotor for providing strong magnetic field.
Praseodymium: together with neodymium in permanent magnets.
Iron: as cast iron or in steel composition for casings and in NdFeB magnets.
Silicon: Electronics grade silicon in semiconductors, control electronics; alloying element in Al-alloys and silicon steel.
Aluminium: in casings and as lightweight material in other metallic parts.
Copper: widely used in windings, cables, inverters, control systems.
Chromium: in the composition of stainless steel and alloys resistant to corrosion in various motor components.
Molybdenum: in the composition of stainless steel and alloys for electric motor’s housing and shaft.

 Photovoltaics
Photovoltaic (PV) technology together with wind energy will lead in the transformation of the global electricity sector; PV panels are also relevant for space applications.
Requirements:
Aluminium: in panel frames and inverters or in alloys for construction and support.
Iron: in steel alloys for different parts and in fixing systems of PV installations.
Lead: in alloys with tin as solder for electric circuits and interconnectors.
Nickel: in electroplating or in stainless steel frames, fasteners and connectors.
Zinc: as transparent conductive oxide in the front contact of solar cells.
Boron: as dopant (p-type) in crystal lattice of the silicon-based wafers.
Germanium: as semiconductor materials for multi-junction solar cells.
Silicon: as semiconductor materials in crystalline or amorphous solar cells.
Silver: as conductive paste on front and back side of the crystalline solar cells.
Cadmium: in thin-film cadmium telluride (CdTe) photovoltaic technology.
Copper: highly used for wires, cables, inverters, also in CIGS technology.
Gallium: as dopant in semiconductors or in copper indium gallium selenide solar cell (CIGS) technology.
Indium: as indium tin oxide (ITO) conductive layer or in copper indium gallium selenide solar cell (CIGS) technology.
Molybdenum: as back contact for copper indium gallium selenide solar cell (CIGS) or in stainless steel frames.
Selenium: in thin-film copper indium gallium selenide solar cell (CIGS).
Tin: in combination with lead for soldering or with indium tin oxide (ITO) in conductive layers.
Tellurium: in thin-film cadmium telluride (CdTe) photovoltaic technology.

 Robotics
Robotics is an emerging technology with an increasing role in future manufacturing, including defence and aerospace, as well as energy technologies and automotive applications.
Requirements:
Beryllium: in alloys, electrooptical systems and robotic surgical devices.
Gallium: for communication, electro-optical and power systems.
Indium: in compounds for electro-optical systems, sensors and stretcher skin.
Aluminium: as lightweight and high-performance alloy in various components.
Chromium: essential for stainless steel and other alloys in robots.
Copper: widely used in wire or axles, or in corrosion resistant alloys.
Manganese: essential in steel alloys used for many parts of a robot.
Molybdenum: in stainless steel alloys for many components of a robot.
Nickel: in electroplating or in stainless steel frames, fasteners and connectors.
Niobium: a microalloying element in high strength structural steel.
Titanium: in alloys and high strength structural steel for actuators and robots arms.
Iron: as cast iron or in steel alloys for various components.
Boron: in neodymium–iron–boron (NdFeB) permanent magnets or as lubricant.
Dysprosium: important additive of neodymium–iron–boron (NdFeB) permanent magnets0
Neodymium: in NdFeB permanent magnets for electricity generation.
Praseodymium: together with neodymium in permanent magnets.

 Drones (Unmanned Aerial Vehicles or UAV)
Drones (Unmanned aerial vehicles or UAV) are increasingly deployed for both civil and various defence applications.
Requirements:
Beryllium: in alloys, communication equipment and integrated wire networks, electro-optical systems, landing gears.
Copper: alloying element in super-alloys and Copper-Beryllium alloys, communication equipment.
Gallium: for communication and identification systems (Gallium Arsenide or GaAs and Gallium Nitride or GaN, intertial navigation systems or 5N), also in electrooptical systems.
Germanium: on-board electronics, inertial navigation systems (5N) and combat identification equipment.
Indium: in compounds for electro-optical systems.
Aluminium: lightweight and high-performance alloys used for airframes, gear bodies, avionics.
Hafnium: Ni-based super-alloys, high strength-high temperature applications.
Iron: used in special steels in structural and engine parts.
Magnesium: in high-performance Aluminium-Magnesium alloys.
Rare Earth Elements: Neodymium, Praseodymium and Dysprosium are used in (small) electric motors with electronic speed control (ESC).
Nickel: for Nickel and Nickel Titanium alloys (Hastelloy series), ductile and corrosion resistant, in turbine and engine parts.
Niobium: ferroniobium used for microalloying in high strength structural steel.
Scandium: in Aluminium Scandium alloys for lightweight – high strength non-structural parts and fittings.
Titanium: main alloys family, lighter than Aluminium Magnesium alloys, high strength, for armour, airframes and wings, fans & compressors.

 3D printing (Additive manufacturing)
3D Printing (3DP, Additive manufacturing or AM) will rapidly reshape traditional supply chains and replace conventional manufacturing, in particular in defence and aerospace. It will lead to a significant shift in the amount and types of raw materials and processed materials consumed.
Requirements:
Aluminium: main alloy family used in 3DP for aerospace, light and stiff, cabins interiors.
Iron: main alloy family of stainless steels in structural and engine parts.
Nickel: for Nickel and Nickel Titanium alloys (Hastelloy series), ductile and corrosion resistant, in turbine and engine parts.
Titanium: main alloys family, lighter than Aluminium-Magnesium alloys, high strength, for aerospace and medical.
Magnesium: in high-performance Aluminium-Magnesium alloys.
Chromium: corrosion resistant in Cobalt-Chromium alloys, gas-turbines, engines, dental and medical.
Cobalt: in various super-alloys, Cobalt-Chromium, in gas-turbines, engine, dental and medical.
Copper: alloying element in Ni and super-alloys.
Hafnium: Nickel-based superalloys, high strength-high temp. Applications.
Manganese: as alloying element in various Nickel-alloys.
Molybdenum: Alloying element in various Titanium-alloys, adds strength.
Niobium: in super-alloys, Titanium-Aluminium-Niobium alloys, in engines, blades, valves, rotors.
Scandium: for lightweight – high strength non-structural parts and fittings.
Silicon: as alloying element in light-weight Aluminium-Magnesium alloys.
Tungsten: in various heat resistant super-alloys, in stainless and hardens tool steels, turbine blades and vanes.
Vanadium: alloying element in various Titanium-Aluminium alloys.
Zirconium: element in Titanium-alloys, in Bulk Metallic Glass, sprockets, springs, gears, sensors.

 Digital technologies
Digital technologies sustain the enormous digital sector enabling all technologies evaluated in this study.
Requirements:
Boron: in semi-conductors and Hard Disk Drive (HDD) permanent magnets.
Cobalt: in Hard Disk Drives (HDD), semi-conductors and integrated circuits.
Gallium: in Gallium Arsenide for semiconductors, LEDs, Gallium nitride semiconductors for blu-ray, mobile phones, etc.
Germanium: glass for fiber-optic cables, infrared optics (night-vision), in semiconductors.
Silicon: electronics grade silicon in semiconductors, Solid State Drives (SSD) and microelectronics.
Lithium: primary batteries.
Manganese: in memory storage technologies and batteries.
Copper: main conductor in electronics, connectors, printed circuits, wiring, contacts, silicon integrated circuits (IC), semi-conductors, etc.
Gold: connectors, switches, relay contacts, solder joints, connection wires and strips, memory chips and circuit boards.
Silver: soldering and brazing alloys, electrical contacts and printed circuit boards.
Platinum group of metals: Palladium for multi-layer ceramic capacitors, silicon integrated circuits (IC) and circuit boards. Platinum and other Platinum group of metals (ruthenium and palladium) are in glass for displays and memories.
Chromium: in stainless steels, for plating and coatings of electronic components, pigments.
Graphite: for production of graphene, electrically and thermally conductive material destined for many applications.
Indium: in screens as indium-tin oxide.
Magnesium: in high-performance Aluminium-Magnesium alloys.
Nickel: in stainless steels, for plating and anticorrosive coatings.
Rare Earth Elements: many Light Rare Earth Elements and Heavy Rare Earth Elements in various applications, incl. magnets, Hard Disk Drives, displays, LED, lasers, circuit boards, memories.
Tungsten: heat resistant in silicon integrated circuits (IC), dielectric materials and transistors. In light bulbs and vacuum tube filaments.

Most of them require some Rare Earth elements: scandium, yttrium, lanthanum, cerium, praseodymium, neodymium, promethium, samarium, europium, gadolinium, terbium, dysprosium, holmium, erbium, thulium, ytterbium and lutetium. Indeed, they are used in anything from electric motors to wind turbines and portable electronics — will increase fivefold by 2030. Rare earth elements have a wide range of applications due to their unique properties. Some common uses include Electronics (Neodymium is used in magnets for hard disk drives, headphones, and speakers; Cerium is used in catalytic converters for cars; and Europium is used in fluorescent lamps) and Energy Production and Storage (Neodymium is used in the generators of wind turbines; Dysprosium is used in the magnets of electric vehicles; and Lanthanum is used in nickel-metal hydride batteries).

The Group also invests in silver, silica, bauxite (for aluminum), cassiterite/tin – used for lead-free solders, windmills –, coltan (columbite-tantalite)/niobium tantalum (tantalite) – used for Micro-capacitors, medical technology –, and wolframite/tungsten also known as 3Ts.

– the elimination of hunger and malnutrition, the agricultural development and the achievement of wider global food security which need:

• fertilizers with nitrogen, phosphorus and potassium (NKP) contents such as urea, ammonia, ammonium nitrate, phosphate (DAP and MAP), potash (MOP and SOP), sulphur, etc.

Shareholding

Bluegreen Holdings Ltd (incorporated in the Marshall Islands and headquartered in Switzerland), formerly known as Seagas and then Vela, is the Group of:

• Joerg Bucherer (Swiss entrepreneur in the jewelry sector) – 60%
• Giovanni Mahler (Swiss entrepreneur and financier, founding chairman of Bluegreen Holdings) – 5%
• Anthony van Ekris (Dutch financer with experience in private equity and commodities) – 35%

Joerg Bucherer (majority shareholder with 60%) who is the biggest owner of jewelry chain stores in the world and the world’s largest supplier of watches and jewelry in the luxury segment. Websites: https://www.bucherer.com/ and https://www.carl-f-bucherer.com/. He is also a major shareholder of Balmac International Inc. 

Balmac International Inc. is an international trading company, headquartered in New York. Commodity trading operations consist of physical coffee and cocoa, metal ores and concentrates, and raw cotton. Operates cold storage warehouses and refrigeration equipment. Group companies include Otto Stadtlander GmbH (one of the leading cotton merchants in Europe) and Bremen and Combaro SA, Lausanne. It recently sold BMIL Technologies, LLC (refrigerated warehouses and cold storage solutions, international leader of commercial COVID air purifiers). The success story of Balmac International Inc. was built by Oliver Stahel who did career in commodity trading (cotton) and finance and was the founding vice-chairman of the Arab-Swiss Chamber of Commerce and Industry, Geneva. He was also the Chairman of Aurado Energy, one of the public companies of the Group.

Carlo Giovanni Luigi Mahler (Giovanni Mahler) is born in Lugano. He graduated in business administration from Columbia University in the City of New York and started his professional career in the United States. His first job was at the oil & gas department of Loeb, Rhoades & Co., a Wall Street investment bank where Mario Gabelli was then also working. Mario Gabelli who then founded Gabelli Asset Management Company Investors (GAMCO Investors), appointed Giovanni Mahler on his board. His first deal was to finance the construction of a refinery in Iran.

He is a former member of the Board of Directors of Nord Stream, an international consortium of five major companies established in 2005 for the planning, construction and subsequent operation of two 1,224-kilometre natural gas pipelines through the Baltic Sea. The five shareholders of the Nord Stream consortium are Gazprom, Wintershall Dea, E.ON, N.V. Nederlandse Gasunie and ENGIE. The twin pipelines, which have been operational since 2011 and 2012 respectively, have the capacity to transport a combined total of about 55 bcm of gas a year – that’s enough to satisfy the energy demand of more than 26 million European households. Nord Stream has designed the pipelines to operate for at least 50 years. Total investment in the pipeline system was 7.4 billion euros. He is also a former member of the Board of Directors of KazMunayGas Trading AG, the Lugano-based oil marketing arm of KazMunayGas, Kazakhstan’s National Oil Company.

Anthonie Cornelis van Ekris who is an Independent Trustee of GAMCO Natural Resources, Gold & Income Trust by Gabelli. He has been the Chairman and Chief Executive Officer of Balmac International Inc. for over twenty years. He serves on the boards of other funds in the Gabelli/GAMCO Fund Complex and as a director and the Chairman of the GAMCO International SICAV. He has over fifty-five years of experience as Chairman and/or Chief Executive Officer of public and private companies involved in international trading and commodity marketing such as Balfour MacLaine (one of the world-largest marketers of soft commodities, listed on AMEX), and served in both of these capacities for nearly twenty years for a large public jewelry chain, KAY Jewelers (the biggest jewelry chain of shops in the United States, listed on NYSE). Both Balfour MacLaine and KAY Jewelers were companies of Bluegreen Holdings Ltd. He served for more than ten years on the Advisory Board of the Salvation Army of Greater New York. He is also a shareholder of Balmac International Inc.

Oil & Gas Investments History

Petrochemical, Refining and Distribution:

• Tamoil (Cremona Refinery and its 96,000 barrels of crude oil per day in Italy, Collombey Refinery and its 55,000 barrels of crude oil per day in Switzerland and Holborn Refinery near Hamburg and its 105,000 barrels of crude oil per day in Germany) with a total capacity of 256,000 barrels of crude oil per day, 3,000 gas stations (in Italy, Switzerland, Germany, Spain and Netherlands) and petrochemical plants (Petrolchimica in Switzerland and Petrol Caltex in Italy), initially in partnership with First Arabian Corporation and then with the Libyan government which later became the sole owner.
• Horsham Corporation (founded by Peter Munk), a Group’s affiliate which was then the owner of Apex Oil Co. and its subsidiary Clark Oil & Refining Corp. with a chain of 1,000 mostly self-serve gas stations in 10 Midwest states, Kentucky, West Virginia, Pennsylvania and Kansas, 14 marketing terminals as well as two refineries: Blue Island (in Illinois, United States, 80,000 barrels of crude oil per day) and another in Downstate Wood River Refinery (in Roxana, Illinois, near St. Louis, Missouri, United States, 346,000 barrels of crude oil per day) which has a total capacity of 426,000 barrels of crude oil per day which is now owned by ConocoPhillips and Cenovus Energy (50% each).

Oil & Gas Exploration & Production (E&P): Liman Block (with recoverable reserves of 708 million barrels of oil and a current production of 56,000 bbl/d) in Kazakhstan.

• Liman Caspian Oil was the special purpose company of the Group.
• Aurado Energy was the new name of the company when it became listed on the Toronto Stock Exchange with the Group as majority shareholder. Aurado Energy also had petroleum interests in Canada: the Chambers area of Alberta, the Carrot Creek, Ferrybank, Medicine River, Swalwell, Fenn-Nevis, Alderson-Enchant and Leduc Woodbend areas of Alberta.
• Embamunaygas is the special purpose subsidiary of KazMunaiGas Exploration and Production JSC which acquired the Liman block from the Group.

Bluegreen’s investments focus on de-risking exploration blocks and on boosting production from brown, mature and marginal fields in a sustainable manner and extending their life.

Oil & Gas Shipping: Navigator Gas which is the owner and operator of 53 liquefied gas carriers (LPG, Petrochemicals – such as ethylene, propylene, butadiene and vinyl chloride monomer – and Ammonia), which includes the world’s largest fleet of handysize liquefied gas carriers. Its liquefied gas carrier fleet consists of 39 semi- or fully-refrigerated handysize liquefied gas carriers, ten of which are ethylene/ethane capable. Its ethylene export terminal in Houston, Texas, United States is the world’s largest one with 1 million metric ton capacity. Its market capitalization reached $4 billion in 2013 (listed on the New York Stock Exchange under the name: Navigator Holdings Ltd).

Oil & Gas Engineering, Procurement and Construction (EPC) and Services:

• B Robotics, an Italian company which designs and manufactures oil and gas traditional drilling rigs, hydraulic drilling rigs, top drives, mud pumps, complete mud systems and drilling rig auxiliary equipment as well as constructs, reconditions and services drilling rigs, thread subs, drill pipes and drill collars worldwide.
• Calethon, a Swiss company which is a turnkey defense, emergency relief, mining and oil sector contractor able to generate infrastructure and logistics sustainment anywhere in the world. It is specialized in providing support to missions and organizations operating in conflict areas and disaster struck zones by leveraging our global resources. Calethon integrates the activities of the engineering, procurement, and construction (EPC) functions to deliver projects safely, on time, and within budget. It has developed an extensive expertise in the field of Steel Piping Electrical Mechanical Hookup and Installation and Mechanical and Electrical Installation of Hydraulic & Electrical Networks.  Calethon caters specifically the Oil and Gas industry offering services such as Design, Manufacturing and Installation of Process Piping systems, Oil and Gas Downstream Modules. Calethon offers a complete and integrated modular construction system designed to meet the critical needs and requirements of demanding clients. Calethon is also a leader in the construction of “Steel Frame Modular Housing / Camping Facilities” destined mainly, but not limited to, companies operating in the Oil & Gas sector, the Mining Sector, Peace Keeping Forces, Military and Civil Protection Agencies.

Oil & Gas EPC and Services History

Oil & Gas Engineering, Procurement and Construction (EPC) and Services:

• Built, owned and operated fully equipped Marine Bases and Construction Yards and Offshore Supply Vessels (Anchor Handling Tug Supply Vessels, Platform Supply Vessels, Fast Support Intervention Vessels, Accommodation Barges and Crew Boats) offering Operational and Technical Management for Supply Vessels, providing a fully integrated in-country logistic support to maximise the synergy and the services to the Oil Companies, assisting in-house with all daily operations of the vessels and undertaking all local responsibilities (contracts, taxes, licences, local crew, logistics, clearances, visa’s, spare parts, jetty bookings, travels, customs, imports, local purchases…). Offered to ENI the full spectrum of oil services for the projects awarded in:

– Karachaganak and Kashagan fields in Kazakhstan.

– Coral, Mamba and Agulha fields in the offshore basin of Rovuma in Mozambique.

– Nené Marine, Litchendjili, Zatchi, Loango, Ikalou, Djambala, Foukanda, Mwafi, Kitina, Awa Paloukou, M’Boundi, Kouakouala, Zingali, Loufika, Pointe-Noire, Grands Fonds and Likouala fields in Republic of Congo, i.e. Congo-Brazzaville.

– Zubair field in Iraq.

Oil & Gas Marketing History

Oil & Gas Marketing: up to 1.5 million barrels per day.

Names: Balfour Seagas, Horsham Seagas, Seagas, BG Energy and InterBlue.

InterBlue is a joint venture company with InterOil Group, a leading service provider to the energy industry, with a focus on Africa and the Middle East. Its range of expertise is segmented into four business units: Marine, Integrated Logistic Services, Contracting, and New Developments. InterOil Exploration & Production ASA is a Norwegian based exploration and production company – founded by InterOil Group and listed on the Oslo Stock Exchange with focus on Latin-America and West-Africa. The company has been an operator of several production and exploration assets in Peru (which together produced up to 5,800 bbl/d of crude oil), Colombia (which together produced up to 2,550 bbl/d of crude oil) and Argentina (which together produced up to 2,850 bbl/d of crude oil) and has been an active license partner in Angola and Ghana. InterOil Group is owned and led by Gian Angelo Perrucci, a former Director and shareholder of GBI Consulting (specialized in Angola, Nigeria and Mozambique with areas of focus including Agriculture, Oil and Gas, Energy/renewable energy, Real Estate, Hospitality and Tourism, Healthcare and Education), Orlean Invest (Nigeria’s largest free zone oil and gas logistics provider) and Oando (which has been producing up to 44,750 bbl/d of crude oil in Nigeria and marketing more than 57 million barrels of crude oil and more than 3 million metric tonnes of refined products).

Sourcing: Sonatrach (Algeria), EGPC (Egypt), Tunisia, Libya’s NOC, Benin, Cameroon, Ivory Coast, Gabon, Nigeria, Angola, KazMunayGas (Kazakhstan), Socar (Azerbaijan), SOMO (Iraq), Norway, Great Britain, Denmark, British Gas (Shell), Rosneft (Russia), Lukoil, etc.

At some point, the Group had the monopoly of the crude purchase from Cameroon and Gabon.

Main clients: ENEL, Refineries of Tamoil, Gruppo Api, ENI, ExxonMobil and Saras SpA in Italy, Repsol, Cepsa and BP in Spain, Totalenergies in France, Wintershall DEA in Germany, Motor Oil Hellas in Greece, INA in Croatia and Coastal State Petroleum (Kinder Morgan) in Texas, United States.

EDI and Italcominvest Srl are the Group’s affiliates and have all the requisites to sell natural gas in the Italian gas market. They are: 1) license to sell gas to end users (abilitazione alla vendita di gas naturale agli utenti finali); 2) transport contract with SNAM Rete Gas Spa for gas transmission on the Italian gas grid; 3) permission to sell gas at the virtual trading point – PSV (utente del bilanciamento); 4) permission to transport gas to the delivery point in Italy (utente della distribuzione).

The Group has also done a lot of trades with BP, Shell, Exxon Mobil, etc.

Pedro de Almeida was in the marketing team before becoming the cofounder of Addax & Oryx Group of Companies (AOG) which included Addax Petroleum (later listed on the London Stock Exchange and then sold to Sinopec). The upstream assets of Addax Petroleum were then in Nigeria, Cameroon, Iraq and Gabon.

Current Oil & Gas Marketing

Energ Power, a Group’s affiliate born from the spin-off of an industrial group already present on the commodity sector at an international level, it derives from a group of managers with long-standing experience in energy trading. The decision to place itself in Switzerland was dictated by uniting various resources from different European countries. The company aims to position itself in the energy market at European level as a trader and wholesaler.

Metals & Mining Investments History

Horsham Corporation (founded by Peter Munk), a Group’s affiliate which founded and was the controlling shareholder of Barrick, a leading gold (the world’s largest gold mining company until Newmont Corporation acquired Goldcorp in 2019 and then Newcrest Mining in 2023, Barrick’s portfolio, however, includes six of the world’s top Tier One gold mines – unparalleled in the industry) and copper producer listed on the Toronto and New York Stock Exchanges with gold operations in the US, Canada, Tanzania, Democratic Republic of Congo (i.e. Congo-Kinshasa), Mali, Côte d’Ivoire, Zambia, Australia, Papua New Guinea, Dominican Republic, Peru, Chile and Argentine and copper operations in Saudi Arabia, Zambia and Chile. Barrick is also starting the development in Pakistan of one of the world’s largest undeveloped copper-gold deposits.

Congo Mining Ltd, a special purpose company in which the Group had a stake along with Midus Global a company owned by Nick Clarke (who majority owns Curzon Resources, Interalloys and Blackdown Resources), Rui de Sousa (who founded Toro Energy, Douro Petroleum with Petrogal, Mediterranean Oil Supply and Trading as well as, in partnership with Quantic and Gazprombank Invest, headed SOCO International, now Pharos Energy, and heads Harmony Minerals), and Amjad Bseisu (who founded Petrofac and EnQuest) among others, with a license in Mayoko-Moussondji, Republic of Congo, i.e. Congo-Brazzaville, to extract iron ore (Hematite Resource of 182 million tonnes at 35.7% Fe as part of a total JORC mineral resource estimate – hematite and magnetite – of 917 million tonnes at 31.4% Fe).

Aktobe Temir VS Llp (ATVS), a Group’s affiliate listed on the Kazakh Stock Exchange, with a license in the Northern Velihovskoe and the Southern Velihovskoe fields, Kazakhstan, to extract Iron Ore (reserves of about 1 Billion tons and production of up to 400,000 tons per year).

Metals & Mining Marketing History

Marketing: gold, copper, aluminum, steel, uranium and precious gemstones (such as diamonds, sapphires and rubies).

Current Metals & Mining Investments

Bluegreen Mozambique Mineracao e Servicos Lda, a subsidiary of the Group with license on Zambesi River Sands, Mozambique, to extract feldspar, zircon, apatite, titanite, garnet and gold.

J.P. Kenny Resources Ltd, a Group’s affiliate which is going to be listed on the London Stock Exchange, with a license on the Lúrio Belt in Nampula and Niassa provinces, Mozambique, to extract gold.

Bluegreen Niger SA, a subsidiary of the Group with licenses to explore uranium. According to the World Nuclear Association, Niger is currently the world’s 5th largest producer of uranium. Indeed, Niger plays a central role in satisfying global uranium demand. The Tim Mersoï uranium province is one of the world’s largest uranium provinces making Niger currently the fifth highest producer of yellow cake. Niger’s uranium production is expected to significantly increase by 2025 if Imouraren (5,000tU), Madaouela (1,200tU), and Dasa (1,700tU) are successfully brought into production. This could make the country the world’s second-largest producer of uranium.

Bluegreen Ressources SA, a subsidiary of the Group with a license in Kouilou province near Tchilonga, Republic of Congo, i.e. Congo-Brazzaville, to extract sodium and potash. Some trace minerals (which might be found in sea salt include phosphorus, zinc, iron, manganese, copper, and silicon) and some tin may also be found. Congo consumes 500 tons per month and Democratic Republic of Congo consumes much bigger quantities (3,000 tons per month only for Kinshasa). Bluegreen Resources SA can produce 9,000 tons per month on 50 ha.

Soft Commodities

Previous investments and ownerships:

Marketing of Soft Commodities: Balfour MacLaine (listed on the AMEX), one of the world’s largest marketers of soft commodities and commodities in general ranging from rubber to tea and spices to frozen meats and oils and chemicals.

Banking, Insurance and Finance

Previous investments and ownerships:

Banking & Finance: Financial Management Services (FMS), a company which acquired and owned Swiss-based Banque de Participations et de Placements and then sold it to Intra Investment Company, the first and one of the major sovereign wealth investment companies in the Middle East with the governments of the United States, Saudi Arabia, Kuwait, Qatar and Lebanon as the main shareholders. The Group also bought and held a minority stake in the London-based Commercial Bank of the Near East, the bank of the Greek billionaire shipping Andreadis family, which then became the Commercial Bank of London and was then acquired by Alpha Bank (Greece).

Insurance: GPA – Assiparos in Italy which then invested in Assurex, the third largest independent broker (by turnover) after Marsh and Aon, and later merged with Nichols and controlled it. The group was later sold to Aon, the world’s largest insurance broker.

Luxury Fashion

Previous investments and ownerships:

Luxury Fashion: Moncler (jointly with Remo Ruffini) which reached a market capitalization of €21 billion in 2021 (listed on the Milan Stock Exchange).

Jewelry

Previous investments and ownerships:

Jewelry: KAY Jewelers (listed on the NYSE), the biggest jewelry chain of shops in the United States with more than 1,000 stores including those acquired from Marcus and Co. operations which included Black, Starr & Frost, perhaps the oldest jewelry store in the United States.

Overhead line insulation technology

Previous investments and ownerships:

Overhead line insulation technology: Sediver, a world technical leader in the research, design, manufacturing of glass insulators for medium or high voltage lines, distribution or railways.

Railway

Previous investments and ownerships:

Railway: Ferrovie Nord Milano, the second largest railway company in Italy which operates primarily in the northern Italian regions of Lombardy and Piedmont and in Canton Ticino in southern Switzerland.

Aviation

Previous investments and ownerships:

Aviation: Airline company owning a large fleet of Falcon 2000EX and other aircrafts providing private & commercial flights worldwide, Ground Services which include on-demand VIP catering, car and chauffeur as well as private concierge.

Yachts

Previous investments and ownerships:

Yachts: a fleet of yachts named Tanit.

Industrial Catering, Food and Housekeeping services

Previous investments and ownerships:

Industrial Catering, Food and Housekeeping services: developed and executed any multi-theme catering services in remote industrial onshore and offshore locations around the globe with full responsibility of Remote Camp Operations Management including security, medical and maintenance services. Clients: Saipem (ENI), Shell, etc. Countries: Switzerland, Kazakhstan, Mozambique, etc.

Current catering, food and housekeeping services:

At the properties of Bluegreen’s founding Chairman and minority shareholder: a 9,800 m2 property near Lugano (Switzerland) and a 3,000 m2 property near St Moritz (Switzerland).

Manufacturing motorcycles, electrical and electronic components and subsystems plus designing

Previous investments and ownerships:

Manufacturing motorcycles as well as electrical and electronic components and subsystems plus designing: Ducati Motor Holding and Ducati Energia (formerly known as Ducati Elettronica).

Engineering, Procurement, Construction

Previous EPC projects:

Russia
From 1994 until 1998, the group was commissioned to renovate Kremlin. Several floors of the building had been severely damaged in October 1993. The group was asked to completely restore both the exterior and interior of the building.

Kazakhstan
The group has been working in Kazakhstan, where it played an important role in the construction of the capital Astana. The group has, as of 2009, built almost 40 % of the buildings in Nur-Sultan, on more than 1,000,000 m2 of land. Among them were the new Ak Orda Presidential Palace, located on the left bank of the Ishim River, the ministry of foreign affairs, the concert and theatre hall, the Opera house, a hospital, the Saryarka Velotreck ice-hockey stadium, and the main terminal of the Nursultan Nazarbayev International Airport. The group also equipped the Khabar Agency-is a major media outlet in Kazakhstan. It was established in 1995, known originally as the National Television News Agency, currently one of the largest networks in the country, and broadcasts daily in Russia and Kazakh.

Real Estate

Current ownerships of Bluegreen shareholders:

– a 9,800 m2 property near Lugano (Switzerland) and a 3,000 m2 property near St Moritz (Switzerland), with Catering and Housekeeping services.
– a 1,100 m2 head office near Lugano (Switzerland).

Previous investments and ownerships:

– Horsham Corporation (founded by Peter Munk), a Group’s affiliate which merged with Trizec Corp. to create Trizec-Hahn, one of the biggest owners and operators of commercial office properties in North America and was later sold to Brookfield Properties and the Blackstone Group.

Wine

Current ownership:

Winery: Le Château des Mille Anges.

Digital

Current partnership:

Digital: partnership with Blockchain District as an opportunity provider and innovator, dedicated to the R&D development for the Group and for third parties.