Sign In
NewsRadar

Search Press
Looking for press releases of a particular company? Enter company name (or keyword) here.

   


3i completes US$250m lead investment in Delta Hydrocarbons US$1bn fundraising


23 March 2007 -- 3i today announces that it has committed $250m to Delta Hydrocarbons (“Delta”) as part of its US$1 billion fundraising. Delta is an innovative venture dedicated to capitalise on current industry dynamics in the international upstream oil and gas (E&P) business.

3i is investing alongside Dyas BV, a subsidiary of SHV Holdings NV, and Upstream Capital Partners, an affiliate of Mercuria Energy Group, who are each committing $250m.

Delta has been founded by a highly experienced management team led by Walter van de Vijver, ex-CEO of Shell Exploration & Production, and Maarten Scholten, previously head of Schlumberger’s Mergers & Acquisitions team, joined by Jeri Eagan as CFO and Frederik Rijkens as Project Director.

With thousands of oil and gas fields around the world producing less than their potential, Delta will collaborate with both National Oil Companies (“NOCs”) and international oil companies (“IOCs”) to enhance the production of mature oil and gas fields. Under Delta’s business model, the NOCs and IOCs will retain ownership of their assets, with Delta supplying the capital, project design, management and execution of production enhancement projects.

Delta is looking to develop a balanced portfolio of projects across a number of geographies outside North America. Delta will have the strategic flexibility to consider opportunistic acquisitions as well.

Colin Burnett, 3i Investment Director, commented: “We are excited to be backing a world-class team in the E&P sector. Delta’s offering is highly attractive to the NOCs and IOCs because it provides an outsourced solution to their need to increase reserves and production with little risk. We believe that this team has the capability to build Delta into a leading global player in the E&P market.“
-Ends-


For further information, please contact:
Colin Burnett, Investment Director, 3i Oil, Gas & Power; Tel: +44 1224 638 666
Kathryn van der Kroft, 3i Press Office; Tel: +44 20 7975 3021


NOTES TO EDITORS

About 3i
3i is a world leader in private equity and venture capital. We focus on buyouts, growth capital venture capital and infrastructure and invest across Europe, the United States and Asia. Our competitive advantage comes from our international network and the strength and breadth of our relationships in business. These underpin the value that we deliver to our portfolio and to our shareholders.

About 3i Oil, Gas & Power
3i’s Oil, Gas & Power team manages an investment portfolio with a value of $1bn across the UK, Norway, USA and Singapore. The current portfolio includes Dockwise, the Dutch heavy transportation company; EDP, an oilfield development project manager and Noreco, a Norwegian independent exploration and production company. Successful realisations include Vetco Gray, which was sold to GE’s Oil & Gas division for US$1.9 billion in January 2007; Petrofac, the international oil and gas facilities service provider, which floated in October 2005; Revus Energy, the independent Norwegian upstream company, which floated in June 2005; and CH4 Energy, a leading exploration and production company, which was acquired by Venture Production plc in August 200
xx


Publisher Contact Information:

3i Group plc
+44 20 7975 3021
kathryn.vanderkroft@3i.com

Company profile of 3i Group plc
Past press releases of 3i Group plc .

Data


27,746
Tech investments
From our Online Data Service
17,891
VC-backed companies
From our Radar


Recent Deals


DATEAMOUNTSECTOR
Dec 21€50.0MKnowledge management
Dec 20€16.0MSemiconductors
Dec 17€18.0MOther Computers & Electronics
Dec 17€5.2MBiotechnology
Dec 17€17.0MBusiness applications
Dec 15€17.0ME-Commerce
Dec 4€3.3MNanotechnology

For information on Europe's most extensive database on technology funding click here!

Events



Press Releases


Sep 30
TetaVi
tetavi raises $6 million to help more companies bring 3d holograms ...

May 28
Identiq
identiq raises $5m seed, launches privacy-first identity validation...

Apr 29
Nethone
nethone raised over $1 million from innovation nest

Mar 31
CompPair
the fit allocates chf 100'000 to comppair technologies

Jan 29
Yumpingo
yumpingo raises $10m to transform guest experiences in restaurants





About usContact usLegal Information
Copyright © 1999-2019
Emerging Technology Research Europe Inc. All rights reserved.