KKR, a leading global investment firm, today announced that it will back
Roland Wessel, Colin Judd and Melvyn Horgan, founders and former
management team of Star Energy, to launch Trans European Oil & Gas
Limited (“Trans European Oil & Gas”).
Trans European Oil & Gas intends to build a portfolio of conventional
onshore oil and gas properties in proven hydrocarbon plays in Europe,
and apply its extensive experience in enhanced oil recovery (“EOR”)
techniques to optimise production.
Established in 1999, Star Energy made several acquisitions of producing
assets and successfully applied EOR techniques. Star Energy grew to
encompass 25 producing oil and gas fields and a commissioned 10 bcf gas
storage facility. Star Energy listed on AIM in 2004 and was acquired by
Petronas in 2008.
Roland Wessel has over 35 years’ experience in the oil and gas industry.
He founded Integrated Drilling Services (“IDS”) in 1992, a business
eventually acquired by Dailey International. Prior to founding IDS he
held various positions in drilling services companies in Africa, Middle
East, North Sea and South America. Roland was the CEO of Star Energy.
Melvyn Horgan is a reservoir engineer with a PhD in Mathematics. He has
profound experience in evaluating oil and gas assets from his time
working for British Gas, Burmah Oil and as a reservoir engineer
consultant at Geopec. Melvyn held the position of Technical Director at
Colin Judd started his career as an auditor at Price Waterhouse and
subsequently held several senior finance roles at industrial and oil
service companies such as Christian Salvesen and BW Mud Limited. Colin
held the position of Financial Director at Star Energy.
Johannes Huth, Member and Head of KKR Europe, Middle East and Africa,
said: “The energy sector is a key focus area across the different
investment platforms of KKR EMEA and we are excited to enter into
investment partnerships of this nature, where we can build on the
experience and skills of an entrepreneurial management team.”
Haroun van Hövell, Managing Director and KKR’s Head of Energy in Europe,
Middle East and Africa, commented: “We believe there is a significant
opportunity to build a portfolio of conventional onshore oil and gas
properties in Europe. We could not have better partners to pursue this
strategy than Roland, Colin and Melvyn who have an excellent reputation
and track record in this field.”
Roland Wessel, CEO of Trans European Oil & Gas added: “KKR’s
longstanding presence and track record in Europe and its strong
commitment to the energy sector make them an excellent partner for this
energy venture. We are looking forward to working closely with the KKR
team as Trans European Oil & Gas pursues investment opportunities across
The investment in Trans European Oil & Gas will be made primarily by the
KKR European Fund IV.
KKR is a leading global investment firm that manages investments across
multiple asset classes including private equity, energy, infrastructure,
real estate, credit and hedge funds. KKR aims to generate attractive
investment returns by following a patient and disciplined investment
approach, employing world‐class people, and driving growth and value
creation at the asset level. KKR invests its own capital alongside its
partners’ capital and brings opportunities to others through its capital
markets business. References to KKR’s investments may include the
activities of its sponsored funds. For additional information about KKR
& Co. L.P. (NYSE:KKR), please visit KKR’s website at www.kkr.com.
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