South Sea Petroleum Holdings Limited is an investment holding company. As of December 31, 2012, the Company had two lines of business. The first line of business is to develop, explore and produce crude oil and minerals, such as graphite, in Asian countries. The second line of business is to provide electronic manufacturing services in the United Kingdom. Through its wholly owned subsidiary, Kalrez Petroleum (Seram) Limited, it operates oilfields in Indonesia under the Bula Petroleum Production Sharing Contract (Bula PSC). Through its majority owned subsidiaries, South Sea Graphite (Luobei) Co., Ltd, and Liaoning Sinorth Resources Co., Limited, the Company is engaged in the business of exploration, production and sale of graphite products in Luobei, Heilongjiang Province of China, and Liaoning Province respectively. Through its majority owned subsidiary Axiom Manufacturing Services Ltd. (Axiom) in the United Kingdom, the Company provides electronics manufacturing services.