Petroleum Equity and RAG launch partnership

The new company will invest €300m in equity. Petroleum Equity stated that the current oil price environment offers attractive investment opportunities, with significant upside from any oil price recovery.

As part of the partnership, RAG, an Austrian oil and gas company, will transfer all its German licences and concessions as well as its team into RDG.

The company's focus will be on mature fields and redevelopments. The plan is to establish the business in Germany before pursuing a European expansion.

Petroleum Equity was founded in 2012 to invest in upstream oil and gas opportunities in the EMEA region. The firm is invested in Alpha Petroleum, a UK North Sea operator with interests in four producing gas fields and two development assets. 

RAG was founded in 1935 and is headquartered in Vienna. The company explores and produces oil and gas. It owns the Haidach gas store together with Wingas and Gazprom Export.

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