Petroleum Africa
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Tuesday, June 18, 2013
A new energy exploration and production company focused on Central and East Africa received financial backing from a global private equity firm. An affiliate of Warburg Pincus will infuse up to $600 million in Delonex Energy.
The new E&P company is led by CEO Rahul Dhir, former CEO of Cairn India. Delonex Energy will focus on leveraging technology, execution, and market access in order to discover, develop, and commercialize hydrocarbons efficiently in the region. The firm’s priority areas include the East African Continental Rift System, which extends from the Red Sea through Ethiopia, Kenya, Uganda, Tanzania, and Mozambique as well as the Central African Rift System from Chad to South Sudan and the coastal areas of East Africa.
Dhir commented: “There is significant, underexplored resource potential in Central and East Africa, and our team has the experience, technology, and capital to unlock these hydrocarbon resources and create value for our host governments.”
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