KNOC consortium buys El Paso assets for $7.15 billion

摘要

South Korea’s state oil company Korea National Oil Corporation (KNOC) said on Wednesday that it is part of a consortium led by private equity company Apollo Global Management which has agreed to purchase El Paso’s exploration and production business, EP Energy, for $7.15 billion. Last month, El Paso said it had entered into a definitive agreement to sell EP Energy to a consortium including Riverstone Holdings and Access Industries but KNOC was not named at the time.