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Article: United Kingdom : Barclays Capital Backs Oil, Gas Development Co Nio Petroleum.
- Article from:
- TendersInfo
- Article date:
- November 4, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: manish03
Barclays Capital is backing a new oil and gas development company called Nio Petroleum in southeast Asia, the bank said Tuesday.
Barclays Capital, the investment banking division of Barclays Bank PLC (BCS), is partnering Nio's chief executive Richard Hall and chief operating officer Rory Edwards in a venture that will focus on undeveloped oil and gas discoveries, marginal fields and late-life assets in the region.
"Given our extensive expertise in oil and gas development, particularly in southeast Asia, we believe there is real upside we can add to both national and independent oil company partners in the region," Hall said.
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