Operating as a Global Holding Company, Millennium Energy is currently developing its business interests in the USA, the Middle East, Europe, Asia, Africa, and in Costa Rica/ the Caribbean Region.
The company has four corporate divisions each with synergies across the Millennium portfolio. Property Development with land holdings in Costa Rica for development of 1,100 Condominium Units, Natural Resources with Oil & Gas Blocks in Sakhalin Island, Russian Federation, in a Joint Venture with West Oil LLC , Minerals exploration in Africa, Renewable Energy and waste to Energy via a joint Venture with Avis Global Energy.
Each division is structured to be capable of being independently financed or once mature enough to be spun off as its own listed entity. Currently Millennium is in the final stages of due diligence review and arranging the financing of its proposed acquisition of EV Fleet Inc, an electric/ lithium battery powered Van and truck manufacture and Millennium is reviewing opportunities related to Cruise Vessel operations in the Caribbean Islands from Bahamas to Cuba as well as in Ship building and repair works in Dubai, UAE.
465 square kilometers of land located in an area with proven oil and gas deposits. The area borders with large developed oil and gas sites with necessary infrastructure and oil and gas pipelines.
License areas "V1" and "V2" have a similar geological structure with the neighboring site to be developed and evaluated as very promising. These sites are also located in close proximity to the international offshore projects on Sakhalin island .
Oil is characterized as a low-sulfur, low-paraffin, and light, with a high yield of gasoline and light fractions.
Each section consists of several identified anticlinal structures and it is possible to release other sub-sections in the additional exploration (identification of several fields in the licensed area).
In the areas there are 7 deep oil wells in Mezhdurechenskaya structure: in Mezhdurechensk-1 during 100 min was obtained 500 liters of oil from depth of 2496-2502 meters, from depth of 2577-2502 meters it was obtained 160 liters during 120 minutes, in Mezhdurechensk-3 from depth of 3259 -3281 meter during the day it was received 283 cubic meters of oil and 25,000 cubic meters of gas.
According to implemented geological surveys (geophysical and geological research on the areas lasted for about 40 years) the following was identified at the licenses areas:
• A structure of layers similar with neighboring oil and gas areas, allowing to expect similar results;
• More than 16 million tons of crude oil at V1 area and more than 13 million tons of crude oil and 4.28 billion cubic meters of natural gas at V2 area.
Detailed extractable hydrocarbon reserves:
• Category C3 (geological/extractable):
- V1 structure– 6700/1340 tons
- Southern V1 – 864/173 tons
Total: 7564/1513 thousand tons.
• Category D1+D2 (geological):
- V1 structure – 5000 tons
- Southern V1 – 2210 tons
- Western P1 - 1160 tons
Total: 8 370 thousand tons.
• According to research of Oksengorn (2008), the expected reserves of Paromai-Hanguzinski structure (V2) are 7 million tons of crude oil and 14 billion cubic meters of natural gas
• Localized expected reserves in "traps" are estimated at 13 million tons of oil and 4.28 billion cubic meters of gas.
Currently, the activities in the field of oil and gas exploration and extraction in the Sakhalin region are implemented by the following companies: “Rosneft” JSC, "Gazprom" OJSC, "Petrosakh" JSC, "Pacific Oil Resources" JSC, "Shakhtoupravleniye Shakhterskoe" LLC, "Oil Expro" LLC, “Sakhalin oil projects" LLC, “Tomgazneft-1” LLC and "Sahalinneftegaz" LLC.
The geological reserves of Odoptu neighboring area with V1 area by categories А+В+С1 are equal to 6371 thousand tons, by С2 category - 297 thousand tons, extractable reserves by А+В+С1 are equal to 449 thousand tons, by С2 category – 54 thousand tons. The total extraction from the beginning is 2407 thousand tons. Sabo (Southern Erri) oil and gas fields – is under development right now. In 2010 in was extracted 6 thousand tons, from the beginning of development 1751 thousand tons were extracted. Geological reserves by А+В+С1 is equal to 4300 thousand tons, extractable reserves by the same category - 212 thousand tons. 2033 million cubic meters of natural gas were extracted since the beginning. Reserves as on January 01, 2011 are equal to 888 million cubic meters. Kydylanyi oil and gas field is quite aged. Nonetheless it is under development until now, the operating company is “Rosneft Sakhalinmorneftegaz”. From the start of development 1106 thousand tons of oil and 2960 million cubic meters of gas were extracted. Geological reserves as on January 01, 2011 by category А+В+С1 are equal to 6544 thousand tons of crude oil and 2090 million cubic meters of natural gas. Reserves of С2 category are equal to 192 thousand tons of oil and 808 million cubic meters of gas. Dissolved natural gas reserves are equal to 1092 million cubic meters.
From the beginning of extraction on neighboring with V1 area Nabil oil and gas field 3989 thousand tons of oil, 154 million m3 of gas and 315 million m3 of dissolved gas were extracted. In 2010 54 thousand tons of oil and 6 million m3 of gas and 3 million m3 of dissolved gas were extracted. Geological reserves as on January 01, 2011 by category А+В+С1 are equal to 12374 thousand tons of oil, by С2 – 613 thousand tons. Katangli oil and gas field is one of the oldest in Sakhalin; it is developed since 1929. 6276 thousand tons of oil were extracted. Geological reserves as on January 01, 2011 are equal to 12342 thousand tons of oil, by C2 category – 93 thousand tons; extractable reserves by the same categories – 2711 thousand and 9 thousand tons accordingly. Wells’ flow rates are equal to 1-3 tons daily.