Burren Energy
Oil company with primary production in Turkmenistan and Congo. Currently a part of ENI Group. Fully exited in 2008
Projects
Russia and the region are endowed with one of the world’s most diverse and rich reserves of natural resources. Baring Vostok funds have actively invested in energy and forestry companies starting from the early privatisation projects of the 1990s, and later with the establishment of Burren Energy, an international oil company with assets in the Caspian region, in Africa, India and the Middle East. Since 1994, The funds have invested in a total of 18 projects related to natural resources, with total investments approximately $450 million .
- Location:
- Turkmenistan, Congo
- Years:
- 1995-2008
- Shareholding:
- Large minority stake
Control in consortium - Exit:
- IPO at LSE, Sale to a strategic investor
In January 2008, Burren Energy was purchased by Eni, Italy’s largest oil company.
Burren Energy started out as an oil transporter, using rented tankers in the Volga-Caspian and the Black Sea basins. Baring Vostok’s funds were one of the first investors in the company.
Other projects
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Tsar Petrol
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Volga Gas
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Novomet
One of the leading manufacturers of electric submersible pumps (ESPs) and related products for the oil and gas industry -
Tigers Realm Coal
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Caspian Gas Corporation
Gas company which developed the Shagyrly-Shomyshty field in Kazakhstan. Exited in 2006 -
Nostrum Oil & Gas
Oil and gas company developing the Chinarevskoye field in Kazakhstan