SOCO confirms merger discussions
SOCO International has responded to speculation concerning a potential merger with Kuwait Energy.
LONDON – SOCO International has responded to speculation concerning a potential merger with Kuwait Energy.
The company confirms that discussions have been held, in the context of its stated objective to strategically reshape its business and grow its portfolio.
However, the two sides have not agreed on transaction terms, and any deal would first have to be approved by the respective shareholders.
SOCO has production and explorations interests offshore southern and eastern Vietnam and West Africa, while Kuwait Energy is an onshore operator in various countries in the Middle East and North Africa.