Soco terminates merger talks with Kuwait Energy

Merger talks between London-listed Soco International and MENA-focused Kuwait Energy have been terminated as the two parties could not reach an agreement. 

Soco announced that it was in preliminary discussions with the newly-constituted board of directors of Kuwait Energy regarding a potential transaction on January 8, 2018.

On Monday, March 5 Soco confirmed that it has terminated these discussions because it could not reach agreement with Kuwait Energy on the basis for an acceptable transaction.

Soco said it evaluates M&A opportunities with reference to strict strategic, financial and operational criteria and only pursues transactions if they are determined by Soco’s board to be in the best interest of shareholders. Soco’s board continues to evaluate opportunities in accordance with these criteria, said the company.

Soco International has assets in Vietnam, Congo, and Angola. Kuwait Energy’s portfolio currently consists of ten exploration, development and production oil and gas assets in Egypt, Iraq, Yemen and Oman. Kuwait Energy currently produces oil from six of its assets.

Share this article

Follow Offshore Energy Today

Events>

<< May 2019 >>
MTWTFSS
29 30 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2

08th OIL & GAS AFRICA 2019 CONFERENCE

OIL & GAS AFRICA is one of the most prime regional & international Oil and Gas conferences in East Africa…

read more >

FPSO Brazil Congress 2019

Charging ahead with 24 planned orders by 2022, Brazil has once again solidified its status as one of the world’s foremost oil and gas leaders…

read more >

OWI WA 2019

West Africa’s only dedicated Offshore Well Intervention Conference is returning for its second year…

read more >

OIL & GAS PHILIPPINES 2019

Oil & Gas Philippines event display products like Oil & gas, fire protection systems and materials…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply