Apex International Energy announced that affiliates of Blue Water Energy (BWE) have agreed to partner with Apex and join the existing investors: Warburg Pincus LLC, International Finance Corporation (IFC) and company management.
The oil and gas exploration and production company focused on Egypt and other Middle Eastern and North African countries (MENA) said that it is primarily focused on pursuing acquisitions and drilling opportunities in MENA, with an initial focus on Egypt.
The company will continue to acquire assets and licenses, whilst driving value creation through the execution of production optimization opportunities, developments and exploration opportunities of scale.
Blue Water Energy, Warburg Pincus LLC and the IFC are jointly providing funding to support Apex's investment program, including drilling, asset acquisitions and corporate transactions.
Roger Plank, Founder and CEO of Apex, said: "We are very pleased that BWE is joining us as an Apex shareholder. The BWE team has an exceptional track record investing in the energy industry with strong sector relationships, proven deal expertise and broad international perspective."
"BWE joins Warburg and IFC as part of Apex's world-class investor base, bringing substantial financial and human capital to support our mission of building a profitable upstream company of scale," Roger added.
Graeme Sword, BWE Founding Partner, said, "For a while BWE has believed there is an opportunity to build a leading MENA exploration and production company of significant scale. We are excited to partner with a best-in-class management team at Apex, as well as strong existing shareholders, Warburg Pincus and IFC, who have a long track record of building successful E&P companies in emerging markets."
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