HONG KONG and WASHINGTON, July 13,
2014 /PRNewswire/ -- Noble Group Limited (SGX: N21)
("Noble") and EIG Global Energy Partners ("EIG") today announced
the formation and commitment to capitalize Harbour Energy, Ltd
("Harbour Energy"), a company that will own and operate upstream
and midstream energy assets globally. Harbour Energy will seek to
own high quality assets that provide exposure to key supply trends
while capturing value up-lift associated with control of offtake,
logistics and supply chain management. Noble will be preferred
offtake and marketing partner of Harbour Energy, while EIG,
together with the company's internal management team, will serve as
manager of the company and oversee the acquisition of assets.
Harbour Energy's capitalization will be funded solely
through balance sheet capital of each of Noble and EIG.
EIG also announced today that Linda Z.
Cook has been appointed a Managing Director of EIG, a member
of EIG's Executive Committee and CEO of Harbour Energy.
"The creation of Harbour Energy gives us the exciting
opportunity of joining with an industry leader such as EIG to
exploit the tremendous opportunities that the changing global
energy markets are presenting," said Yusuf
Alireza, Chief Executive Officer of Noble. "This transaction
represents a significant milestone in the continued implementation
of Noble's 'asset light' strategy, exploiting our best in class
expertise in logistics and supply chain management, while
partnering with market leading asset managers and owners."
R. Blair Thomas, Chief Executive
Officer of EIG, said, "New sources of supply, together with demand
growth in Asia, are driving
fundamental changes in the energy sector and related trade flows.
By partnering with Noble, we believe Harbour Energy will be
uniquely positioned to benefit from the established global
platforms of each of our firms and capture value both through the
ownership and operational improvement of assets and the flow
business those assets generate. We couldn't be more pleased that
someone of the caliber of Linda Cook
has agreed to join EIG and serve as CEO of Harbour Energy. She is
an extraordinarily accomplished senior executive with deep
operating and management expertise across all facets of the global
energy industry."
About Noble Group
Noble Group (SGX: N21) manages a portfolio of global supply
chains covering a range of agricultural and energy products, as
well as metals, minerals and ores. Operating from over 140
locations and employing more than 70 nationalities, Noble
facilitates the marketing, processing, financing and transportation
of essential raw materials. Sourcing bulk commodities from low cost
regions such as South America,
South Africa, Australia and Indonesia, the Group supplies high growth
demand markets, particularly in Asia and the Middle
East. In order to ensure the integrity of its supply chains,
the Group has a portfolio of interests in strategic logistics and
processing assets which form an integral part of facilitating its
key trade flows. Noble is ranked number 76 in the 2013 Fortune
Global 500. www.thisisnoble.com.
About EIG
EIG specializes in private investments in energy and
energy-related infrastructure on a global basis and has
$15.4 billion under management as of
March 31, 2014. During its 32-year
history, EIG has invested over $16.4
billion in the sector through more than 290 projects or
companies in 34 countries on six continents. EIG's clients include
many of the leading pension plans, insurance companies, endowments,
foundations and sovereign wealth funds in the U.S., Asia and Europe. EIG is headquartered in Washington, D.C. with offices in Houston, London, Sydney, Rio de
Janeiro, Hong Kong and
Seoul. For more information, visit
www.eigpartners.com.
Linda Z. Cook
Linda Cook, 56, spent 29 years
with Royal Dutch Shell in multiple
business units in multiple countries. A petroleum engineer by
training, she joined Shell in 1980, spending the first 18 years of
her career in various engineering, operations and management roles
in North American E&P. She relocated to Europe in 1998 first to run strategy and
finance for Shell's global E&P business and then to run Shell's
gas & power business, including the world's largest LNG
portfolio. In 2003 she became CEO of Shell Canada Ltd. and then in
2004 returned to The Hague as a
Director and member of the Executive Committee of Royal Dutch Shell plc with responsibility for,
among other things, gas & power, renewables, downstream
technology and global trading activities, as well as general
oversight for all Shell activities in Asia, North
Africa, Mexico,
Venezuela and selected
Middle East countries. Mrs. Cook
currently serves on the Board of Directors of The Boeing Company,
Cargill Inc. and KBR Inc., and recently retired from the Board of
Marathon Oil.
Important Legal Notice
This announcement is being made for information purposes only
and is not intended to be, and must not be taken as, the basis for
an investment decision or any investment activity. This
announcement does not constitute or form part of any offer or
invitation to sell or issue, or any solicitation of any offer to
purchase or subscribe for, any interest in Harbour Energy or any
other entity, or any other securities in any jurisdiction including
the United States, nor shall it
form the basis of, or be relied upon in connection with, any
contract or investment decision. Securities may not be offered or
sold in the United States absent a
registration statement or an exemption from registration.
SOURCE EIG Global Energy Partners
