New UK Company acquires Oil Exploration Blocks in Ogaden
A new UK-based company, Delonex Energy Limited, two weeks ago acquired oil exploration blocks in the Ogaden basin, in eastern Ethiopia.
Delonex Energy is an oil and gas exploration company focused on sub-Saharan Africa. In a statement issued on August 25, Delenox Energy said that the Ethiopian Ministry of Mines had awarded it an exploration license in the Ogaden basin.
Delonex Energy said it was leveraging its technical expertise, proven project execution skills and strong balance sheet to fast track the exploration and development of hydrocarbons for the benefit of host nations.
Delonex Energy was established in 2013 with an investment capital of USD 600 million dollars led by Warburg Pincus, a renowned global private equity firm based in New York, and the IFC, a member of the World Bank Group. Delonex energy is headquartered in London, with subsidiaries in UK, India and Kenya.