© Copyright Acquisition International 2024 - All Rights Reserved.

Article Image - Carlyle International Energy Partners acquires Romanian business of Sterling Resources’ assets
Posted 1st April 2015

Carlyle International Energy Partners acquires Romanian business of Sterling Resources’ assets

Carlyle International Energy Partners acquires Romanian business of Sterling Resources' assets

Mouse Scroll AnimationScroll to keep reading

Let us help promote your business to a wider following.

Carlyle International Energy Partners acquires Romanian business of Sterling Resources’ assets
Image

Carlyle International Energy Partners Acquires Romanian business of Sterling Resources

View Biography

The Carlyle Group

View Biography
Sterling Resources

Acquirer

Target

The Carlyle Group (NASDAQ: CG), has agreed to acquire the entire Romanian business of Sterling Resources Ltd.

The acquisition includes license blocks 13 Pelican, 15 Midia, 25 Luceafarul and 27 Muridava, and will be structured as a corporate acquisition of Sterling’s wholly-owned subsidiary Midia Resources SRL. These assets, located in the Romanian Black Sea, contain a number of significant gas discoveries and have net 2C Resources of 51mmboe and net Prospective Resources of 375mmboe.

Marcel Van Poecke, Head of Carlyle’s international energy team, said: “We are investing in the future of energy for South East Europe. Our team’s expertise and resources can help deliver the production capacity and infrastructure needed to ensure the company becomes a significant regional gas producer.”

In addition to the initial consideration paid for the acquisition of Midia, Carlyle International Energy Partners (CIEP) will also fund the future development of the assets, which is expected to constitute a sizable inward investment into Romania. The development project will focus on drilling, infrastructure construction, production and sale of gas to market. The current Midia team will remain in place, with additional resources added to deliver this important project, with the aim of the company becoming a significant regional energy player in the near term.

Capital for this investment will come from CIEP, a $2.5 billion fund that invests in global oil and gas exploration and production, mid- & downstream, oil field services and refining and marketing in Europe, Africa, Latin America and Asia. This acquisition will be the fourth investment by the fund. The transaction is expected to close by the end of the second quarter of 2015 subject to typical conditions, including statutory Romanian approvals and the consent of certain participants in the Romanian concessions.

Categories: Finance, M&A


You Might Also Like
Read Full PostRead - Eye Icon
How Debt Impacts Climate Disasters
Finance
16/05/2023How Debt Impacts Climate Disasters

Most of the countries that are vulnerable to climate disasters are also struggling with debt, which is making it harder for them to respond effectively to climate-related emergencies.

Read Full PostRead - Eye Icon
How Mortgage Brokers Simplify the Process to Homeownership Credit Score and Mortgage Approval
News
05/01/2024How Mortgage Brokers Simplify the Process to Homeownership Credit Score and Mortgage Approval

In the journey to homeownership, few factors are as crucial as credit scores. A good credit score not only affects mortgage approval but also plays a significant role in determining interest rates and loan terms. For many potential homebuyers, understanding an

Read Full PostRead - Eye Icon
Business Beyond the Bottom Line: A New Era of Enterprise
News
12/08/2024Business Beyond the Bottom Line: A New Era of Enterprise

Business Beyond the Bottom Line: A New Era of Enterprise Picture credit A paradigm shift is underway in the rapidly evolving landscape of modern business. Companies are increasingly recognizing that success is not solely defined by financial metrics but by a b

Read Full PostRead - Eye Icon
The Smart Choice
Innovation
13/02/2017The Smart Choice

Remfry & Son is a well-established law firm which continues law practice first established in 1827 by its founder Mr. Henry Oliver Remfry of England U.K. and carried on under the name of Remfry & Son by Mr. Chughtai Mirza Jamiluddin, Advocate. Professional pra

Read Full PostRead - Eye Icon
Brazil’s Go-To Boutique Law Firm
Legal
31/08/2016Brazil’s Go-To Boutique Law Firm

Based in Brazil, Maristela Basso Lawyers have become nationally renowned for their highly specialised legal services.

Read Full PostRead - Eye Icon
HOMETAINMENT Acquires Nomad Chefs: A Scalable Business Model In The Culinary And Entertainment Industry
News
10/06/2024HOMETAINMENT Acquires Nomad Chefs: A Scalable Business Model In The Culinary And Entertainment Industry

HOMETAINMENT, the leading home and office entertainment and hospitality provider, has announced its acquisition of Nomad Chefs.

Read Full PostRead - Eye Icon
Arganto Advises Empact through Solving Efeso International’s Acquisition.
M&A
07/05/2015Arganto Advises Empact through Solving Efeso International’s Acquisition.

Arganto Advises Empact through Solving Efeso International's Acquisition.

Read Full PostRead - Eye Icon
How AI Impacts Mergers And Acquisitions
M&A
12/05/2023How AI Impacts Mergers And Acquisitions

In the fast-changing world of business, mergers and acquisitions (M&A) have become a crucial tool for growth and competitive advantage. As technology advances, artificial intelligence (AI) is playing an increasingly significant role in shaping the M&A landscap

Read Full PostRead - Eye Icon
Simplifying Asset Performance Management
Finance
22/07/2019Simplifying Asset Performance Management

Atonix Digital develops and offers a suite of software solutions to help businesses and utilities to boost efficiency, increase the accuracy of planning, and to improve day-to-day decision-making in an everchanging landscape



Our Trusted Brands

Acquisition International is a flagship brand of AI Global Media. AI Global Media is a B2B enterprise and are committed to creating engaging content allowing businesses to market their services to a larger global audience. We have 14 unique brands, each of which serves a specific industry or region. Each brand covers the latest news in its sector and publishes a digital magazine and newsletter which is read by a global audience.

Arrow