First Reserve will invest in Romanian Amromco Energy

Newsroom 19/09/2011 | 13:34

First Reserve, a global private investment firm, will invest in Amromco Energy, the third largest oil and gas producer in Romania. The investment annouced this morning is the first stage in First Reserve’s plan to build an oil and gas platform in the Central and Eastern European region.

“We plan to extend the company’s activities in Romania and develop new opportunities to roll out its proven production enhancement model into other countries such as Bulgaria, Hungary and Poland”, said Anastasia Deulina, Director of First Reserve.

“The Central and European region is estimated to have nearly 60 billion barrels of oil equivalent of undeveloped gas resources while the broader European region is keen to broaden the sources from which it imports gas. Romania’s geographic position, its operating history and infrastructure, and its resource potential make it an attractive location to provide a platform to develop into the region and we are excited by the opportunities for us to work with Amromco to achieve this”, added Deulina.

First Reserve is a leading private investment firm in the energy and natural resource industries, making both private equity and infrastructure investments throughout the energy value chain.

The firm is currently investing its most recent private equity fund, which closed in 2009 at approximately USD 9 billion and its most recent infrastructure fund which closed in 2011 at approximately USD 1.2 billion.