Delonex Energy has since its entry in East Africa through the Ethiopian acreage in September 2014 increased its presence in the region just recently having acquired equity in Kenya’s Block 12A and Block 9 and could be said to be among explorers that have gained the largest acreage in the last three years .
Most significant is the acquisition of 50% interests in Block 9 following the departure of Marathon Oil a license that has already witnessed a natural gas discovery at the Sala-1 well. This is in line with the company’s strategy to actively evaluate acquisition of discovered resources and producing assets.
Delonex also acquired Marathon’s 50 percent interest in the Ethiopia Rift Basin Area Block where Africa Oil is Operator and owns the remaining 50%.
The company established in 2013 with an initial investment of $600m led by Warburg Pincus, a global private equity firm, and the IFC, a member of the World Bank Group has also over the same period seen it acquire its first license at the Onshore Palmera Block as an operator in the Mozambique fifth Licensing round alongside the Indian Oil Corporation and Empresa Nacional de Hidrocarbonetos E.P (ENH) as joint venture partners.
In Ethiopia the company holds an exploration license in Ethiopia covering Blocks 18, 19 and 21 in the Abred-Ferfer area
The various licenses where the company is actively involved in line with the Rahul Dhir led company’s plan to access exploration opportunities through licence rounds, farm-ins and direct awards from host governments.
In this low price period Delonex says it is well placed to access opportunities in the current market environment by leveraging: committed capital from its investors, fast tracking exploration, development and monetisation of resources,maximizing returns on assets through operating efficiency enhancements and its ability to mobilise expertise and people fast, to deliver best-in-class technology and execution.
Besides Rahul Delonex has tapped a majority of its senior management team from Cairn India including: its Executive Director for Exploration & Sub-Surface David Ginger, Chief Financial Officer Ajay Gupta, among others.
Delonex Energy is headquartered in London, United Kingdom with offices in Ethiopia, Kenya, Mozambique and India.