Energean to sell Med oil and gas assets to Carlyle for up to $945 million
LONDON -Energean has agreed to sell its assets in Egypt, Italy and Croatia to private equity fund Carlyle for up to $945 million, the Mediterranean-focused oil and gas producer said on Thursday.
Carlyle International Energy Partners, the fund's non-U.S. energy investment arm, said it will establish a new company which will seek further acquisitions in the Mediterranean and will be led by former BP in 2023. For 2024 it expected production in Egypt to rise to 29,000-31,000 boed from around 25,000 boed.
CIEP said the deal will create a company with 47,000 boed of production, including interests in Cassiopea, Italy’s largest gas field in terms of reserves, and Abu Qir, one of the largest gas producing hubs in Egypt.
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