KKR said Sept. 22 that it will back Trans European Oil & Gas Ltd., formed by founders and former management of Star Energy.
Trans European will have a portfolio of conventional onshore European oil and gas properties. It will also focus on EOR techniques. KKR European Fund IV will primarily support the investment, the New York-based private-equity firm said.
Roland Wessel, Colin Judd and Melvyn Horgan founded and managed Star Energy in 1999. Star had 25 producing oil and gas fields and a 10 billion cubic feet per day gas storage facility. It was acquired by Petronas in 2008.
"The energy sector is a key focus area across the different investment platforms of KKR EMEA and we are excited to enter into investment partnerships of this nature, where we can build on the experience and skills of an entrepreneurial management team," said Johannes Huth, member and head of KKR Europe, Middle East and Africa.
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