Melrose Resources

Melrose Resources plc was a Scottish oil and gas exploration and production business. Its activities focused on Egypt, France, Turkey and the United States.

History

The Company was formed in 1992 by Robert Adair to exploit international oil opportunities. It was first listed on the London Stock Exchange in 1999. In 2006, the company acquired Merlon Petroleum, an oil business with which it shared interests in Egypt.[1]

In October 2012, Melrose Resources merged with Dublin-based Petroceltic International plc in a share for share deal worth $222m, this added new exploration assets in Algeria, Kurdistan and Italy to the existing Melrose portfolio and formed a full cycle oil and gas exploration and production company. The expanded company, Petroceltic International is headquartered in Dublin.[2]

References

  1. ↑ Melrose buys partner to gain Egypt assets
  2. ↑ "Petroceltic to Buy Melrose Resources to Expand Oil Portfolio". 17 August 2012 – via www.bloomberg.com.


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