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January 31, 2023
BUSINESS

Mercuria invests USD 50 M in Amromco Energy

Amromco, the largest independent upstream gas producer in Romania completed a USD 50 M equity investment from Mercuria, one of the world’s largest integrated energy and commodity trading companies, a press release informs. The equity will be used to accelerate Amromco’s growth in Romania and across Eastern Europe by expanding on existing partnerships and strengthening its position in the region. Partners include Petrom and RomGaz. The investment will also provide additional funding to accelerate the development of the company’s other existing assets, which comprise 30 producing, development and exploration concessions across Romania, and enable it to look for additional JV and acquisition opportunities in Eastern Europe. Under the recently closed transaction, Amromco acquired 3 oil fields in Northeastern Romania from Petrom and intends to further cooperate with Petrom in the region.As part of the agreement, Amromco and Mercuria will also establish a marketing joint venture for commodities in Romania, providing additional gas marketing opportunities.

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