Hayward's Vallares swoops on Turkey's Genel Energy

摘要

London-UK-based oil and gas acquisition vehicle Vallares, headed by former BP CEO Tony Hayward, has agreed to merge with Turkey's Genel Energy International, one of the key operators in the Kurdistan region of northern Iraq, Vallares said September 7. The deal gives a clear entry into a frontier oil province for Vallares, which raised more than $2 billion in a London stock market listing in June in preparation for an oil sector acquisition (ON 6/20).