Netherlands M&A | Tenaz Energy scales with NAM offshore acquisition
July 25, 2024
On 18 July 2024, Tenaz Energy acquired NAM’s offshore assets for an initial consideration of €165 million (US$180 million). NAM is a 50:50 joint venture between Shell and ExxonMobil. The assets include the operated Joint Development Area (JDA; K14a, K15, K17a, L13) and L02/L09 blocks as well as K01a, K18b, G14 & G17a and K07/K08. The deal will complete on 1 July 2025 with an effective date of 1 January 2024.