Viaro Energy - Oil and Gas Company

Viaro Energy was incorporated in February 2020, and in around six years‚ the company has acquired a working interest in over 60 fields across the UK Continental Shelf and Dutch North Sea․ Let's walk through the details‚ and see how it got here. 

Viaro Energy was founded by Francesco Mazzagatti in London․ Months later‚ Viaro Energy announced that it had acquired RockRose Energy‚ a North Sea-focused oil and gas company listed on the AIM‚ for £247․6 million․ The acquisition was completed on September 2, 2020‚ giving Viaro an immediate production base and operating team expertise, something that would take a new company years to assemble․ 

Further acquisitions included RockRose Energy's buying out the entire share capital of The Hague and London Oil B․V․ (including Dutch non-operated gas production) in April 2021․ Six months later‚ Viaro acquired interests in more than 16 producing gas fields in the UK from SSE for a reported $164 million plus further contingent payments of up to $54 million․ 

Several other transactions were completed in 2023․ Viaro bought the entire share capital of Spark Exploration UK and its interests in West of Shetland licenses‚ including the Tuck gas discovery․ RockRose separately farmed into Hartshead Resources' SNS block․ The Anning and Somerville gas fields are currently under redevelopment‚ with RockRose holding 60% working interest․ Hartshead will hand over operatorship to RockRose in the future, as per the deal․ Viaro also took a 15% non-operated interest in EnQuest's Bressay oil field and the EnQuest Producer FPSO that same year. 

Some people may be surprised to learn that Viaro Energy doesn't operate most of what it owns․ Most of its assets are non-operated‚ meaning that Viaro owns a stake and receives a share of production․ This includes Arran (operated by Shell) and the Blake and Ross fields (operated by Repsol Sinopec). 

The company's portfolio is largely gas (more than 70% of the portfolio)‚ which it sees as a transition fuel․ Viaro's interests account for 9% of the daily volume of total UK gas production on a gross basis‚ and 3% on a net basis‚ according to the company․ 

Viaro Energy is part of the Viaro Group‚ which also includes commodities trader Viaro Investment‚ registered months before Viaro Energy, in December 2019‚ and a small company called Viaro Real Estate.