Carlyle Group acquires assets of Energean in Egypt
Updated 6/26/2024 10:39:00 AMArab Finance: The global investment firm Carlyle Group has acquired assets of the Greek Energean PLC in Egypt, Italy, and Croatia, as per a statement on June 26th.
The acquisition was reviewed during a meeting between the Egyptian Minister of Petroleum and Mineral Resources Tarek El-Molla, Carlyle Group’s Chairman James Maguire, the group’s Managing Director Parminder Singh, and Energean PLC’s CEO Mathios Rigas.
For his part, Maguire stressed that his company seeks to inject significant investments in the Egyptian oil and gas sector.
He added that the group is planning to provide advanced technologies to be applied in exploration operations, as well as contribute to scaling up oil and gas production in Egypt, turning it into a reception and distribution center for the group in the Mediterranean.
On June 20th, Carlyle announced it would acquire a portfolio of gas-weighted exploration and production (E&P) assets in Italy, Egypt, and Croatia from Energean.
The group also stated that this transaction would enhance its strategic gas-weighted asset portfolio with expected production equivalent to 47,000 barrels of oil per day.
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