Amromco Energy, a US and Romanian oil and gas producer, has received a private equity investment of undisclosed amount from First Reserve Corp.
The deal aims to enable the company to develop further opportunities for low risk production enhancement and moderate risk exploration opportunities amongst its existing asset portfolio, as well as looking to acquire new production assets, also reviewing opportunities for growth in other Central and Eastern European countries such as Bulgaria, Hungary and Poland.
Founded in 2002, Amromco focuses on the acquisition of upstream oil and gas projects in emerging markets and their subsequent enhancement through the application of advanced extraction technologies.
The company, which has over 200 employees, is based in Houston, Texas with offices in New York, Bucharest and Ploiesti, Romania.
First Reserve is a private investment firm in the energy and natural resource industries, making both private equity and infrastructure investments throughout the energy value chain.