Regional law firm Prettys has advised a team of experienced managers from the oil and gas sector in securing a multi-million dollar investment for a start-up venture, Trans European Oil & Gas.
With backing from investment firm KKR, the new business aims to acquire a portfolio of onshore oil and gas assets across Europe, applying specialist oil recovery techniques to optimise their production.
Ian Waine, head of corporate services at Prettys, said: “We are extremely pleased to have played our part in achieving a successful outcome for Trans European Oil & Gas which means that they can start operating with immediate effect.”
Roland Wessel, chief executive of the new company, adde d: “Prettys has been instrumental in ensuring the successful conclusion of this large and complex investment, having worked closely with the members of our team from the outset.”
Mr Wessel previously founded and was chief executive of Star Energy which was acquired by Fortune 500 company Petronas in 2008 after the company successfully applied sophisticated enhanced recovery techniques across a number of oil and gas fields.
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