At Octavia Energy we are intent on building a better future for our customers, stakeholders and communities with whom we operate.
Octavia Energy is an international oil and gas company operating in North Africa and the Middle East Region and headquartered in London. We embody the drive, passion and ambition one would expect of a start-up, together with a proud history spanning two decades in the discovery, development and commercialisation of oil and gas.
In 2016, Yung Holding Ltd, a subsidiary of Octavia Energy, was created as a consortium of individual investors to serve as an investment arm to the oil and gas industry. The investors draw on a strong history of experience in oil and gas, underpinned by financial stability from successful businesses.
Between 2016-2021, Octavia Energy and its subsidiary Yung Holding were able to acquire two primary assets in the Republic of Yemen: Block 9 (Calvalley Petroleum Cyprus) and Octavia Block S1 (formerly known as Occidental of Yemen Block S1).
Since then, the company has made major investment commitments to expand and optimise Octavia’s long-term operations, with total investments since 2018 exceeding $100 million dollars.
As of today, Octavia and all its affiliates have a consolidated working interest of 55 million barrels of proven reserves (McDaniel & Associates, 2014), driven primarily by our largest current areas of operation: Block 9 and Block S1. Yung Holding draws on an extensive bank of experience in oil and gas, underpinned by financial stability from successful businesses across many sectors in the Middle East and beyond.
Now, building on the trust placed in us by governments, investors, partners and employees, Octavia Energy is entering a new era in our history, focused upon diversification into new international jurisdictions.
Our Locations
Cairo, Egypt
Management centre for Yemen operations, Drilling, Petroleum Engineering and Facilities Management. The Cairo team provides operational guidance to the field and liaises on a daily basis with field management staff. Cairo also houses Calvalley's Accounts, Finance and Human Resources departments.
London, UK
Octavia headquarters.
Republic of Yemen
Production centre for Block 9 and Block S1 with a central processing facility in Block 9, handling oil production from three fields . Site office, field and facilities management with on-site accommodation. In field training and professional development for all local staff.
Our History
Octavia Energy has a strong history of oil and gas exploration and production dating back to 1997. In 2021, we enter into a new era in our growth story, turning our drive and ambition to new horizons.
We have set about modernising and extending our production facilities in order to maximise production from our fields in the Republic of Yemen. In parallel, we are looking beyond Yemen, to extend our footprint throughout the Middle East and Africa.
Calvalley Petroleum Inc. enters into the Yemen Block 9 PSA and establishes a subsidiary, Calvalley Petroleum (Cyprus) Ltd., as operator with a 50% participation interest.
Medco Energi acquires the 25% participation interest from Reliance Industries.
Calvalley Petroleum (Cyprus) Ltd. is acquired by Yung Holding. Backed by a strong and experienced group of investors, the Board and executive management teams are strengthened, and investments are made to resume Block 9 production.
Calvalley undertakes an extensive 3D seismic program, the first in Yemen since 2009, and a four-well drilling program, the first since 2014. We also establish a London office, acquire the share interests in Yemen Block S1 from Petsec Energy and rebrand as Octavia Energy embarking on a new era of portfolio growth.
Calvalley Petroleum Inc. farms out a 25% participation interest to each of Hoodoil and Reliance Industries and lists on the Toronto Stock Exchange. Declaration of Commerciality is issued in 2005.
As hostilities in Yemen escalate, force majeure is declared.
Block 9 production is successfully resumed..
Calvalley Petroleum Inc. enters into the Yemen Block 9 PSA and establishes a subsidiary, Calvalley Petroleum (Cyprus) Ltd., as operator with a 50% participation interest.
Calvalley Petroleum Inc. farms out a 25% participation interest to each of Hoodoil and Reliance Industries and lists on the Toronto Stock Exchange. Declaration of Commerciality is issued in 2005.
Medco Energi acquires the 25% participation interest from Reliance Industries.
As hostilities in Yemen escalate, force majeure is declared.
Calvalley Petroleum (Cyprus) Ltd. is acquired by Yung Holding. Backed by a strong and experienced group of investors, the Board and executive management teams are strengthened, and investments are made to resume Block 9 production.
Block 9 production is successfully resumed..
Calvalley undertakes an extensive 3D seismic program, the first in Yemen since 2009, and a four-well drilling program, the first since 2014. We also establish a London office, acquire the share interests in Yemen Block S1 from Petsec Energy and rebrand as Octavia Energy embarking on a new era of portfolio growth.
