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Asset Development and Management (ESI Group)
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Crown Energy is an international company in the oil and gas industry and the property industry, with operations in Africa and the Middle East. The Group consists of two business areas: Energy and Property Development & Services.
The business model of Property Development and Services is to develop and offer customized solutions relating to (staff) residential and offices to companies primarily in the oil and gas industry. Their services offer everything from planning and construction to management and other value-added services, such as security, transportation, telecommunications, catering and recreational facilities.
The business has been operating for over 15 years. The portfolio consists of 16 property assets in Angola, distributed among buildings and leases. The leases consist of long- and short-term contracts with tenants and landowners of varying lengths (5-15 years) that are extended regularly. Customers include some of the world’s leading oil and gas companies with high credit ratings.
In the Energy business area, value is created by finding and developing early-stage oil assets and then introducing larger oil industry players to the projects for further development and production.
IRAQ – Onshore exploration and production licence over an area of 24,000 square kilometres located in northern Iraq south-west of Kurdistan. The licence area contains a number of major discoveries as well as vast unexplored areas with high potential.
South Africa – Offshore exploration licence containing a discovery with contingent resources ready for appraisal well drilling. The licence is considered to have great potential as a result of additional prospects within the licence area. The Company has entered into a farm-out agreement which results in financing for the remaining licence shares for well drilling.
Madagascar – Onshore exploration licence on the western side of the island. After conducting seismic and geological studies, several structures have been identified. Future efforts include drilling, for which Crown Energy is seeking a partner.
Equatorial Guinea – Offshore exploration licence in the Rio Muni Basin. The licence area contains confirmed discoveries that are also surrounded by a number of structures with potential for further discoveries.
On September 28, 2017 an updated competent persons report (CPR) covering Crown Energy's projects was prepared. The CPR was prepared by Peter Mikkelsen, Crown Energy’s chief geologist and exploration manager. The CPR was certified by Dunmore Consulting, which is a qualified person registered with the Society of Petroleum Engineers. The report was prepared in accordance with current regulations and international standards, Society of Petroleum Engineers Petroleum Resources Management System of 2007.
Working Interest (WI)
Gross contigent resources 2C (mmboe)
Gross prospective resources (mmboe)
Crown Energy's Net WI Resources (mmboe)
Equatorial Guinea - Block P
Exploration / Development
South Africa - Block 2B
Madagascar - Manja Block 3108
Iraq - Salah ad-Din
Exploration / Appraisal
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.