Backed by US asset manager Carlyle, UK-based oil exploration and production company Assala Energy announced it has completed the acquisition of Shell’s onshore assets in Gabon, Africa, for a total of USD $628 million including an amount equivalent to interest. This sale, backed by the Carlyle Group, was announced on 24 March 2017 with an economic date of 31 December 2015. With this transaction, Assala Energy will assume debt of USD $285 million.
With headquarters in London and a leadership team led by Chief Executive Officer David Roux, Assala Energy focuses on energy opportunities in Sub-Saharan Africa. The company’s management team includes successful, Africa-experienced E&P professionals, many of whom have worked in Gabon previously.
This transaction consists of all of Shell’s onshore oil and gas operations and related infrastructure in Gabon: five operated fields (Rabi, Toucan/Robin, Gamba/Ivinga, Koula/Damier, and Bende/M’Bassou/Totou), participation interest in four non-operated fields (Atora, Avocette, Coucal, and Tsiengui West), as well as the associated infrastructure of the onshore pipeline system from Rabi to Gamba and the Gamba Southern export terminal.. Upon completion, local employees will transfer from Shell to Assala Energy.
Shell discovered oil in Gamba, on the southern bay of the Ndogo Lagoon in 1963.
David Roux, CEO of Assala Energy, said: “Assala Energy will build on Shell’s 55 years of work in Gabon. We will invest to secure and increase production levels, and extend field life cycles. We will carry out responsible operations through best-in-class safety, environmental, social performance and transparent stakeholder partnerships. We are committed to long-term, sustainable growth and creating value. We look forward to working with the Government of Gabon, our staff and partners on this exciting opportunity.” (Source: Assala Energy . Image: Atora discovery well in 1997 Energy global news / RB)