© Copyright Acquisition International 2025 - All Rights Reserved.

Article Image - Carlyle International Energy Partners acquires Romanian business of Sterling Resources’ assets
Posted 1st April 2015

Carlyle International Energy Partners acquires Romanian business of Sterling Resources’ assets

Carlyle International Energy Partners acquires Romanian business of Sterling Resources' assets

Mouse Scroll AnimationScroll to keep reading

Let us help promote your business to a wider following.

Carlyle International Energy Partners acquires Romanian business of Sterling Resources’ assets
Image

Carlyle International Energy Partners Acquires Romanian business of Sterling Resources

View Biography

The Carlyle Group

View Biography
Sterling Resources

Acquirer

Target

The Carlyle Group (NASDAQ: CG), has agreed to acquire the entire Romanian business of Sterling Resources Ltd.

The acquisition includes license blocks 13 Pelican, 15 Midia, 25 Luceafarul and 27 Muridava, and will be structured as a corporate acquisition of Sterling’s wholly-owned subsidiary Midia Resources SRL. These assets, located in the Romanian Black Sea, contain a number of significant gas discoveries and have net 2C Resources of 51mmboe and net Prospective Resources of 375mmboe.

Marcel Van Poecke, Head of Carlyle’s international energy team, said: “We are investing in the future of energy for South East Europe. Our team’s expertise and resources can help deliver the production capacity and infrastructure needed to ensure the company becomes a significant regional gas producer.”

In addition to the initial consideration paid for the acquisition of Midia, Carlyle International Energy Partners (CIEP) will also fund the future development of the assets, which is expected to constitute a sizable inward investment into Romania. The development project will focus on drilling, infrastructure construction, production and sale of gas to market. The current Midia team will remain in place, with additional resources added to deliver this important project, with the aim of the company becoming a significant regional energy player in the near term.

Capital for this investment will come from CIEP, a $2.5 billion fund that invests in global oil and gas exploration and production, mid- & downstream, oil field services and refining and marketing in Europe, Africa, Latin America and Asia. This acquisition will be the fourth investment by the fund. The transaction is expected to close by the end of the second quarter of 2015 subject to typical conditions, including statutory Romanian approvals and the consent of certain participants in the Romanian concessions.

Categories: Finance, M&A


You Might Also Like
Read Full PostRead - Eye Icon
Peer-to-Peer Lending: A Comprehensive Overview of How It Works, Pros & Cons
News
31/07/2023Peer-to-Peer Lending: A Comprehensive Overview of How It Works, Pros & Cons

Peer-to-Peer lending is a form of lending in which borrowers and lenders connect with one another without the involvement of traditional lending institutions. 

Read Full PostRead - Eye Icon
To Infiniti and Beyond?
Finance
27/08/2015To Infiniti and Beyond?

Infiniti has announced that an engineering student from the University of Illinois is one of five global winners of the 2015 Infiniti Performance Engineering Academy (IPEA). For one year, Infiniti will provide 22-year-old Alex Allmandinger with the opportunity

Read Full PostRead - Eye Icon
Customers Aren’t Numbers, But They Really Count
M&A
05/08/2020Customers Aren’t Numbers, But They Really Count

When acquisitions go wrong, it’s because of a failure to look after the people involved, and there are none more important than customers, writes Carlene Jackson of Cloud9 Insight.

Read Full PostRead - Eye Icon
Data Regulation – Time For Businesses to Take Their Head-Out-of-the-Sand
News
10/06/2024Data Regulation – Time For Businesses to Take Their Head-Out-of-the-Sand

Mark Roebuck, DPO and Founder of ProvePrivacy explains how companies struggling to keep up with data regulation adherence demands should look to internal Data Champions.

Read Full PostRead - Eye Icon
Organisational security and the hidden risk
Strategy
20/01/2021Organisational security and the hidden risk

The security needs of businesses vary greatly dependent on the sector they are in. Despite the varying requirements, each business’ broader approach to security should follow a similar format where vital assets – those that needs to be protected - are surr

Read Full PostRead - Eye Icon
Helping The Elderly To Live Freely
Innovation
11/01/2021Helping The Elderly To Live Freely

On a mission to help all people take control of their aging, LiveFreely is a highly innovative company that provides seniors and their caregivers with the necessary tools to be able to proactively age. LiveFreely has been recognized in this issue of Acquisitio

Read Full PostRead - Eye Icon
Moody’s Analytics Predicts One of the Longest Economic Expansions in History
Finance
26/03/2015Moody’s Analytics Predicts One of the Longest Economic Expansions in History

Moody's Analytics, a leading provider of economic forecasts, expects the current US economic expansion to be one of the longest in history, as jobs continue to grow, wages revive, and households and businesses balance sheets strengthen.

Read Full PostRead - Eye Icon
SASE – The Security Fabric of The Future
News
05/02/2024SASE – The Security Fabric of The Future

The rise of cloud computing, the pervasiveness of mobile devices, and the widespread adoption of remote work have rendered traditional network security architectures obsolete and ineffective. To address these evolving threats and safeguard their valuable asset

Read Full PostRead - Eye Icon
10 Steps to Take to Start Your Own Trucking Business
News
23/05/202310 Steps to Take to Start Your Own Trucking Business

Starting your own trucking company offers a unique opportunity to carve out a niche in the ever-expanding transportation and logistics industry. As an owner, you can enjoy the freedom of being your own boss while reaping the benefits of meeting rising demands



Our Trusted Brands

Acquisition International is a flagship brand of AI Global Media. AI Global Media is a B2B enterprise and are committed to creating engaging content allowing businesses to market their services to a larger global audience. We have a number of unique brands, each of which serves a specific industry or region. Each brand covers the latest news in its sector and publishes a digital magazine and newsletter which is read by a global audience.

Arrow