Aurelian Oil & Gas Plc, London, (London: AUL) plans to enter a joint venture with Luxembourg-based investment company Kulczyk Investments SA for oil and gas activities in Poland.
The agreement will establish a strategic partnership with KI to jointly originate and invest in upstream oil and gas opportunities in Poland and to co-operate in gas marketing, procurement of oilfield services and, in time, the procurement of midstream processing and production infrastructure.
Kulczyk is 13.77% shareholder in Aurelian. Aurelian will operate all licenses that the partnership co-invests into, with KI bringing significant capital and strong downstream and gas commercialization capabilities to the venture.
Aurelian chief executive Rowen Bainbridge says, "Kulczyk Investments is a strong, well-funded, local partner who we know well and have a long affiliation with. Excellent synergies exist between our technical capability and Kulczyk Investments' M&A and gas commercialization skills."
Recommended Reading
TPG Adds Lebovitz as Head of Infrastructure for Climate Investing Platform
2024-02-07 - TPG Rise Climate was launched in 2021 to make investments across asset classes in climate solutions globally.
Air Products Sees $15B Hydrogen, Energy Transition Project Backlog
2024-02-07 - Pennsylvania-headquartered Air Products has eight hydrogen projects underway and is targeting an IRR of more than 10%.
NGL Growth Leads Enterprise Product Partners to Strong Fourth Quarter
2024-02-02 - Enterprise Product Partners executives are still waiting to receive final federal approval to go ahead with the company’s Sea Port Terminal Project.
Sherrill to Lead HEP’s Low Carbon Solutions Division
2024-02-06 - Richard Sherill will serve as president of Howard Energy Partners’ low carbon solutions division, while also serving on Talos Energy’s board.
Magnolia Appoints David Khani to Board
2024-02-08 - David Khani’s appointment to Magnolia Oil & Gas’ board as an independent director brings the board’s size to eight members.