Gulf Oil and Gas accountACCOUNT

Trident Energy Looks to Invest in Southeast Asia Oil & Gas Assets

Source: Reuters 12/28/2016, Location: Asia

Private equity-backed Trident Energy will scour for oil and gas assets in Southeast Asia, with a focus on mid-life producing assets that can be redeveloped to create value, a senior executive told Reuters.

Set up by former senior executives of independent Anglo-French oil firm Perenco in September, the London-based firm is looking to acquire onshore and offshore assets primarily in Africa, Latin America and Southeast Asia.

"We believe there is a big mid-life assets potential in Southeast Asia, mostly in Indonesia, Thailand and Malaysia and also in Brunei, Vietnam and the Philippines ... so it's a good time to invest," said Thibault d'Argent, Trident Energy's new business manager.

"We're looking at fields producing more than 15,000 barrels-per-day and with more than 50 million barrels of reserves."

The company has yet to make any acquisitions but is looking mainly at developed assets where wells have been drilled but production is declining. It aims to stabilise and optimise output and then resell the assets within 5 to 10 years, he said.

U.S.-based private equity firm Warburg Pincus LLC led a line of equity financing of up to $500 million to Trident this year and the firm is in talks with a sovereign fund to secure more funding, d'Argent said, declining to give more details. Trident Energy is one of many private-equity backed companies eyeing energy assets in Southeast Asia as a prolonged bout of lower crude oil prices has driven oil majors hungry for cash to divest or seek additional funds.

Management staff at Trident Energy include Perenco's former chief executive Jean-Michel Jacoulot and Perenco's former chief financial officer Eric Descourtieux.

Mergers and Acquisitions News in Malaysia >>

United Kingdom >>  5/28/2020 - InfraStrata plc (INFA) is pleased to announce that it has entered into a term sheet with West Face Long Term Opportunities Global Master L.P. (the Ven...
Australia >>  5/25/2020 - 88 Energy Limited has commenced the despatch of its bidder’s statement dated 21 May 2020, which contains 88 Energy’s offers to acquire all of the ordi...

Netherlands/Holland >>  5/25/2020 - Fugro has received USD 17.3 million from the sale by Global Marine Group of a 30% stake in Huawei Marine Networks (HMN) to Hengtong Optic-Electric Co ...
Canada >>  5/21/2020 - Matthew Bassett, CEO & Chairman of Bassett Financial Corporation, the financial advisor for Refinery Ventures Corporation, has announced that the comp...

Colombia >>  5/21/2020 - Petrobras, following up on the press release disclosed on 03/06/20, informs that the non-binding phase related to the sale of 100% of the shares held ...
Kazakhstan >>  5/19/2020 - KBR announced that it has signed a joint venture (JV) agreement with NIPIneftegas JSC to establish a new engineering and support services company, KBR...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Malaysia Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 |

More News

Related Links

Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.