Independent oil and gas company Aladdin Middle East has raised USD20m in new equity from 4D Global Energy Advisors SAS (4DGEA), a Paris-based private equity investor that specialises in the energy sector.
The equity financing will enable Aladdin Middle East to finance its committed and contingent work programmes and working capital to build on its asset base in the Republic of Turkey.
The natural resources team at UK tax, audit and advisory firm Crowe Clark Whitehill worked alongside Murphy Richards Capital to provide investee due diligence services to the transaction.
Stephen Bullock, head of natural resources at Crowe Clarke Whitehill, says: “We are very pleased that Aladdin Middle East has secured such a significant capital injection and look forward to working together in the future to build on the already impressive achievements of the management team in the US and Turkey. The involvement of 4DGEA will assist the company greatly in growing the business and maximising returns from Aladdin Middle East’s exceptional asset base.”
Aladdin Middle East is the oldest independent oil and gas company in Turkey, and will look to continue to develop its core business, participating in joint ventures in South East Turkey, exploiting its new oil discoveries, and taking part in new projects in Turkey and the surrounding region.
