Assala Energy completes acquisition of Shell’s Gabon onshore assets

Carlyle-backed Assala Energy has completed the acquisition of Shell’s onshore assets in Gabon, Africa, for $628 million including an amount equivalent to interest. The investment represents Carlyle’s largest transaction in Africa to date.

With this transaction, Assala Energy will assume debt of $285 million.

Capital for this investment came from two Carlyle funds: Carlyle International Energy Partners, a $2.5 billion fund that invests in global oil and gas exploration and production, mid- and downstream, oil field services and refining and marketing in Europe, Africa, Latin America and Asia; and Carlyle Sub-Saharan Africa Fund a $698 million fund that invests in buyout and growth opportunities across Africa.

This transaction consists of all of Shell’s onshore oil and gas operations and related infrastructure in Gabon: five operated fields (Rabi, Toucan/Robin, Gamba/Ivinga, Koula/Damier, and Bende/M’Bassou/Totou), participation interest in four non-operated fields (Atora, Avocette, Coucal, and Tsiengui West), as well as the associated infrastructure of the onshore pipeline system from Rabi to Gamba and the Gamba Southern export terminal.  Upon completion, local employees will transfer from Shell to Assala Energy.

“With a geographic focus in Sub-Saharan Africa, Assala Energy is committed to being a safe, responsible and efficient energy operator and to being an active contributor to the Gabon economy,” said Marcel van Poecke, head of Carlyle International Energy Partners. “Assala Energy will also explore opportunities to invest in future projects that seek to create sustained long-term value for the local economy.”

“Assala Energy will build on Shell’s 55 years of work in Gabon,” said David Roux, CEO of Assala Energy. “We will invest to secure and increase production levels, and extend field life cycles.” Roux said the firm is “committed to long-term, sustainable growth and creating value.”

Assala Energy was created by Carlyle as a new oil and gas exploration and production (E&P) company to focus on energy opportunities in Sub-Saharan Africa. The company’s management team includes successful, Africa-experienced E&P professionals, many of whom have worked in Gabon previously.