03 — Active Portfolio
Active deals reshaping their categories.
Every active investment in one place. Scroll for the full briefing on CEOR energy structures, Tigbourne Farm (Surrey), and Le Royal Sahara Palace (Marrakech).
Explore by sector
Energy · CEOR
Chemical Enhanced Oil Recovery — doubling production from trapped oil.
Tigbourne Capital invests in CEOR deployments inside IOC and NOC oilfields — proven chemistry that releases trapped oil, doubles field life, and cuts CO₂ per barrel by 35%.
Overview
Investment in cutting-edge CEOR technologies.
CEOR = Chemical Enhanced Oil Recovery
We invest alongside IOCs, NOCs and independent oil operators to apply path-breaking CEOR technologies that can materially improve production from midlife-to-mature oilfields.
CEOR has been applied across thousands of oil wells globally. Tigbourne works with technology partners that manage several million barrels per day of oilfields with CEOR applications.
See the full technology stackTechnology partners
The chemistry that doubles a field — sourced from the world's leading oilfield specialists.
Case studies on request
Service partners
Case studies on request
Case studies on request
Case studies on request
Logos are used for illustrative purposes only. All trademarks are the property of their respective owners.
The pain point
The world's majors walk away from their best reserves.
Conventional Enhanced Oil Recovery is capital-intensive, carbon-heavy and offers diminishing returns — so IOCs and NOCs routinely abandon mature, water-flooded fields long before their reserves are exhausted. Trillions of barrels remain trapped.
>90%
Water-cut fields commonly walked away from
CEOR Active Deals
Six ways operators access Tigbourne capital.
Operator rationale
Why oil operators accept CEOR investment.
Oil operators invite Tigbourne to make a CEOR investment when an oilfield reaches the midlife-to-mature stage. CEOR converts a declining waterflood into a second production curve — without the capex, carbon load, or balance-sheet exposure of conventional EOR.
How CEOR investment works
A four-step structure. Aligned economics.
Define future production baseline and breakeven.
Agree fee distribution past the breakeven point.
Tigbourne invests in CEOR in the oilfield against a fee.
Tech and service providers deploy and treat the wells.
Estimated operator benefits
Annual production from trapped oil
Production over oilfield life
CO₂ per barrel
H₂S reduction & less downtime
Two investment structures
Capital that meets the operator where they are.
01
CEOR Service Investment
Tigbourne funds CEOR deployment in IOC/NOC oilfields. Incremental production shared past the breakeven point — no balance sheet exposure for the operator.
02
CEOR Advance
Tigbourne arranges CapEx and acquisition finance against future oil deliveries while providing CEOR Service Investment alongside — a single integrated structure.
Applied across thousands of wells globally.
Millions of bbl/d under management.
Select operators applying CEOR
ExxonMobil · Chevron · Shell · OXY · ConocoPhillips
Qualified oilfield parameters
Nine variables decide whether a field qualifies.
Service Investment Flow
- 01
Tigbourne invests in CEOR treatments of Oil Co wells.
- 02
Define future baseline production and breakeven.
- 03
Agree fee distribution past the breakeven point.
- 04
Service provider (SLB / Halliburton / Baker Hughes) conducts pilot test.
- 05
Chemistry (Dow / BASF / SNF / Veolia / Hunting plc) applied across wells.
- 06
Production doubles over field life.
- 07
Incremental revenues shared per agreement.
CapEx Finance Flow
- 01
Tigbourne finances & purchases multi-year oil deliveries.
- 02
Tigbourne SPV pays lifting, marketing & CEOR costs.
- 03
Oil Co continues to operate & market crude as usual.
- 04
Tech and service providers engaged to deploy CEOR.
- 05
Production doubles, improving cash security.
- 06
Oil Co and Tigbourne share incremental revenues per agreement.
Further reading
Real Estate · Surrey, UK
Tigbourne Farm — seven restored centuries on the edge of Surrey.
A working farm transformed into a landmark residential development on the western edge of Chiddingfold. Phase I exited at $10M. Phases II & III propose 303 new homes — combined GDV $250M.
Programme
Scheme plan © Nye Saunders Ltd · Brochure photography pending
Phase I
Completed — $10M exit
Exclusive development of seven newly restored period farm buildings on the edge of Chiddingfold. The barns range from two to four bedrooms, each with private gardens and a garage or store.
Phase II
153 homes proposed
0.835 ha (2.06 ac) parcel with new access off New Road forming the main access to the site. Adjacent to Kiln Copse and Hambledon Hurst.
Phase III
150 homes proposed
A further 150 homes set within mature parkland on the western edge of the village — adjacent to Minepit Copse and Flash Copse. Combined Phase II + III GDV of $250M.
Phase I — Restored period buildings
Seven buildings, six centuries.
- 01
14th century
Farmhouse
- 02
16th century
Oat Barn
- 03
17th century
Wheat Barn
- 04
18th century
Granary
- 05
Early 20th century
Dairy Barn I
- 06
Early 20th century
Dairy Barn II
- 07
Early 20th century
Dairy Barn III
$10M
Phase I exit
303
Homes proposed across Phases II & III
$250M
Combined GDV
Hospitality · Marrakech
Le Royal Sahara Palace — a landmark at the foot of the Atlas.
A 53-hectare palace estate at the foot of the Atlas Mountains in Marrakech — 161 rooms, the Villa Kadiri private hotel concept, and a 45-villa branded development opportunity.
Opportunity
€60M for an 80% stake.
Includes €15M hotel & Villa Kadiri renovation
- 01161-room hotel across the main Palace and four Riads
- 0220 Villa Kadiri suites with butler service
- 0353 hectares (131 acres) of palm-filled gardens and olive groves
- 0445-villa branded, serviced & maintained development project
Photography courtesy of the property
Le Royal Sahara Palace is a landmark luxury estate set across 53 hectares of gardens, palm trees and olive groves at the foot of the Atlas Mountains. Designed with a meticulous Moroccan-Indian aesthetic and interiors by Orientalist Stuart Church, the palace combines grand architecture, dramatic mountain views and expansive resort amenities.
The hotel has 161 keys split over five buildings — the main Palace and four Riads. 89 keys currently operate; 72 more are in practical completion and furnishing.
- Main Palace · 17 keys — 1 Royal Suite (500 sqm), 4 Grand Suites (250 sqm), 12 Standard rooms (80 sqm)
- Each Riad · 36 keys — 1 Grand Suite (175 sqm), 4 Luxury Suites (250 sqm)
The wider estate includes the Villa Kadiri private hotel concept — planned as 20 exclusive suites with butler service — and a 45-villa branded, serviced and maintained development project on the surrounding land.
Estate at a glance
The facts behind the palace.
The Marrakech market
"St Tropez without the yachts."
3M
tourists in 2019 — France, Spain, Germany, Netherlands, Belgium, UK
60%
occupancy in 2019 (pre-Covid)
16
golf courses · 3 polo clubs
77 km
from Atlas Mountain ski resort
Brand & track record
Operated by Taj Sahara Palace from 2012 to 2017.
4.5 / 5 across 250 TripAdvisor reviews while operating — top-tier ratings for location, cleanliness and service. Featured across leading international travel and lifestyle media.
- · Architectural Digest
- · Financial Times
- · Vogue
- · Paris Match
- · Hola Maroc
- · House & Garden
- · New York Times
- · Condé Nast Traveller
- · JetSetReport
Filming location for Sex and the City 2.
Business plan
Operated by Le Royal by BlueBay — proven Moroccan operators.
01
The concept
All-inclusive '1001 Nights & Sex in the City' theme — attracting young executives and professionals to a fully-amenitised destination resort.
02
The hotel
Soft opening delivered immediate cashflows. 72 rooms and common areas redecorated; Villa transformed into 20 exclusive suites; grand opening followed by phased renovation of the remaining 89 rooms. €10M+ projected GOP.
03
Development land
Planning consent for 45 BlueBay Villas — branded, serviced and maintained. 250 sqm footprint · 500 sqm over two floors · 10,000 sqm gardens each. €10M from lot sales or €25M profit on completed villas.
04
Operator pedigree
BlueBay operates the Grand Hotel Villa de France and El Minzah in Tangier — among the finest hotels in Morocco.
Operating forecast · 2023–2027
GOP margin 44% → 50% across the ramp.
| € · Sahara Palace | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|
| Days operating | 366 | 365 | 365 | 365 | 365 |
| Rooms inventory | 89 | 161 | 161 | 161 | 161 |
| General expenses (% revenue) | 56.0% | 55.3% | 55.1% | 52.8% | 50.1% |
| Gross Operating Profit | €3.1M | €7.2M | €9.6M | €12.3M | €14.9M |
| GOP margin | 44.0% | 44.7% | 44.9% | 47.2% | 49.9% |
BlueBay management fees not included in projection
Forthcoming competition
Two five-star openings validate the market.
- Park Hyatt — hotel, golf club & villas
- Ritz-Carlton — hotel, polo club & villas
Villa Kadiri
A 3,250 sqm private residence — destined for 20 butler-serviced suites.
Ground floor
Six reception rooms — Grand Salon, Petit Salon, Oriental Salon, Dining Room, Central Reception, Library. Five additional en-suite bedrooms with dressing rooms. Kitchen, laundry, maid's room. Four ornamental ponds and extensive veranda.
First floor
Master suite with two en-suite bath / dressing rooms. Baby's room. Two offices. Roof terraces.
Engage