Carlyle to Establish Mediterranean-Focused Oil and Gas Company with Former BP CEO Tony Hayward

Carlyle, a prominent private equity fund, is set to establish a new Mediterranean-focused oil and gas company under the leadership of former BP CEO, Tony Hayward. This strategic move aims to tap into the growing eastern Mediterranean gas market driven by rising demand in Egypt and Europe. The new company, backed by Carlyle International Energy Partners, plans to produce 47,000 barrels of oil per day across Egypt, Italy, and Croatia with ambitions for further growth through asset upgrades and acquisitions. Energean, known for gas production offshore Israel, looks to expand its reach to Europe, the Middle East, and Africa. The deal has boosted investor confidence with Energean’s stock rising by 2.7% post-announcement.