This investment, conducted through its corporate venture capital department BeVentures, has laid the foundation for exploring opportunities in the natural gas and LNG value chain.
Manama, Bahrain, November 11th / PRNewswire / -- On the 11th, it was announced that an investment of Kimmeridge Fund VII had been made. Kimmeridge Fund VII is the flagship fund of Kimmeridge, while Kimmeridge is an asset management company focused on the energy industry. This investment was completed through Bapco Energies's corporate venture capital department, BeVentures.
This transaction marks the first fund investment in the BeVentures portfolio and establishes a strategic partnership between Bapco Energies and Kimmeridge Fund VII. The investment also sets the framework for exploring opportunities in the natural gas and LNG value chain, while providing visibility for potential future joint investments to support the Kingdom of Bahrain's long-term energy priorities.
Bapco Energies, the Group's Chief Executive Officer, stated: "Engaging with leading institutions in the global energy industry is an important part of our efforts to strengthen our capabilities and support our long-term goals. The technical expertise of Kimmeridge and its strong influence in North America provide valuable perspectives as we continue to advance the Group's strategic priorities and support the changing energy needs of the Kingdom of Bahrain."
BeVentures CEO Areije Al Shakar stated: "This investment is an important milestone for BeVentures, reflecting our focus on collaborating with highly professional investors who bring deep industry expertise and differentiated market insights. We look forward to working with Kimmeridge to explore opportunities that support long-term value creation and advance our strategic goals."
Kimmeridge, Co-Founder and Managing Partner, Dr. Neil McMahon stated: "Our collaboration with Bapco Energies marks another step forward in Kimmeridge's commitment to the Middle East. We are proud to support the region's energy ambitions, contribute to economic growth and transformation, while creating lasting value for our investors and partners."
Kimmeridge Managing Director and Head of the Middle East Region Fay ç al Benjelloun stated: "We are very pleased to welcome Bapco Energies as an investor and thank them for their trust in our team. We will continue to build lasting relationships with regional institutions through close collaboration and sharing of professional knowledge, and look forward to working with the Bapco team to explore opportunities in the natural gas and LNG value chain."
Through this cooperation, Bapco Energies will gain the professional knowledge, proprietary research, and industry expert resources of Kimmeridge in the areas of natural gas and LNG.
About Bapco Energies
Bapco Energies is a comprehensive energy company dedicated to driving the next generation of development and ensuring Bahrain's long-term energy supply. The company is chaired by His Highness Shaikh Nasser, bin, and Hamad Al Khalifa, who also serves as the representative for humanitarian work and youth affairs of His Majesty the King. Under the guidance of the Blueprint Bahrain framework, the company promotes growth in all segments of the energy value chain and is committed to a sustainable energy future.
Bapco Energies operates through diversified wholly-owned subsidiaries, including Bapco Refining, Bapco Upstream, Bapco Gas, Bapco Tazweed, and BeVentures; in addition, it holds a majority stake in Bapco Air Fueling. The company has also jointly established a joint venture, BxT Trading with TotalEnergies, which focuses on petroleum product trading.
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About Kimmeridge
Kimmeridge was founded in 2012 by Ben Dell, Dr, Neil McMahon, and Henry Makansi. It is an alternative asset management company that focuses on the energy industry. The company differentiates itself through direct investment methods, profound technical knowledge, proactive portfolio management, and proprietary research and data collection capabilities.
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