Starcrest Nigeria Energy Limited is an independent oil and gas exploration and production company focused on the acquisition and development of oil and gas reserves in the Gulf of Guinea region since 2006.
The Promoters and Management have extensive experience and domain knowledge in the field of Petroleum Exploration, Development and Production as well as in the field of Geophysical Data Acquisition, Processing and Interpretation.
All the oil and gas blocks have a well laid out infrastructure. Hence these blocks are easily accessible and are in close proximity to the Government’s crude gathering station.
The various seismic and reserves assessment studies have established substantial amounts of oil and gas reserves in these blocks.
Starcrest thus has significant deep offshore oil and gas assets in its control which require developmental work and for the purposes it would require substantial amounts of Capital investment to augment its development and growth objectives.
Starcrest has a Development Plan for drilling of additional wells in these blocks in the next 3 to 5 years. The Plan is intended to be executed in a phased manner and would involve large capital expenditures, to be funded through a combination of external borrowings and internal accruals. The proposed external borrowings shall be drawn in various stages of completion of each phase. This approach offers a view to judiciously monitor the debt.
With assured offtake of the entire oil and gas production from these blocks by the Federal Government, as per the terms of the Production Sharing Contract (PSC) there is zero marketing risk associated with these projects.
We believe that we have a number of competitive strengths that will allow us to benefit from an increasing demand for exploration and production services. These competitive strengths include
• Ability to deliver technical expertise within an integrated business model.
• Significant cost advantage.
• Domestic bid advantage.
• Experienced team of senior management and engineers.
• Partnerships with global players like Shell, NNPC, Addax
Starcrest possesses diversified commercial interests in oil and gas exploration and production, in bioethanol production (derived from ethanol) and also in oil palm plantations.