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Block P, Equatorial Guinea - is in close proximity to the mainland in the Rio Muni basin, which includes confirmed discoveries such as the oil-rich Ceiba field and fields in Block G.
These fields, located about 50 kilometres south, have reserves of about 500 million barrels of oil. In the Venus field in Block P, sand reservoirs similar to those in the Ceiba Field and fields in Block G have been identified and verified. Previous exploration drilling has also indicated potential for oil deposits in the area surrounding the Venus Field. Block P has proven oil discoveries and is therefore in the later phase of Crown Energy’s business model.
In September 2012, the licence operator submitted a plan of development for the Venus field and its surroundings to the authorities for approval. This application led to a change, resulting in the licence area being concentrated to the area in and around the existing Venus field. This licence area is called the provisional development area (PDA). It covers about 250 square kilometres and
includes the Venus field discovery. The area also includes a number of highly interesting identified structures with potential for further discoveries. The best estimate of the combined total prospective resources for these structures is around 150 million barrels of oil, all of which lie within the PDA.
License: Block P (PDA), Equatorial Guinea
Operator: GE Petrol
Share (working interest): 5%
Other partners: GE Petrol (58.4%), Atlas Petroleum (5.6%) och Vaalco Energy Inc (31%)
Block P (PDA), Equatorial Guinea
Gross contigent resources 2C (mmboe)
Gross prospective resources (mmboe)
Total resources mmboe
Net WI (mmboe)
Crown Energy's working interest (WI) is 5%.
All resources in mmboe (Million Barrels of Oil Equivalents). Crown Energy calculates reserves and resources according to Society of Petroleum Engineers Petroleum Resources Management System of 2007.