07 Sep 2011
(MENAFN) Vallares Plc said that the investment company reached a USD2.1 billion deal for a merge with Genel Energy International Ltd in order to acquire oil fields in the Kurdistan region in Iraq, reported Bloomberg.
Vallares added that Kurdistan was the last big onshore ‘easy’ oil province that offered private companies from anywhere in the world the right to explore, moreover, later in September, Kurdistan’s regional government would be expected to approve the deal.
It also said that Genel Energy’s daily oil output was 41,000 barrels, and the amount was forecasted to increase to 90,000 barrels per day by the year 2013.
It is worth noting that the new company would be renamed Genel Energy Plc. where Vallares’ Tony Hayward will be CEO and former Goldman Sachs Group Inc. banker and fellow Vallares founder Julian Metherell will be CFO.
27 Jan 2025
BBK offers customers with exclusive Tas’heel and Mazaya Finance to own their dream home
15 Jan 2025
BBK Signs Strategic Partnership with Bahrain Airport Company to Develop “Express Cargo Village”
08 Jan 2025
Bank of Bahrain and Kuwait and Global Payment Services Deliver the First Advanced Fraud Prevention Solution for Wallet Provisioning in the Kingdom of Bahrain
26 Dec 2024
BBK proudly supports “Celebrate Bahrain” as a gold sponsor in cooperation with BTEA
17 Nov 2024
BBK and Asia Jewellers announce exclusive offers to its customers at Jewellery Arabia 2024
12 Nov 2024
BBK partners with Durrat Al Bahrain to offer exclusive financing for Jawhart Al Marjan
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more