Reach Energy Berhad (“Reach Energy”) is an Oil and Gas Exploration & Production (“E&P”) Company that was incorporated in Malaysia on 7 February 2013 and listed on the Main Board of Bursa Malaysia Securities Berhad (“Kuala Lumpur Stock Exchange”). Reach Energy is headquartered in Kuala Lumpur.
Reach Energy’s vision is to establish itself as an independent Malaysia-based oil and gas E&P company with domestic and global operations.
On 25th November 2016, Reach Energy completed the transaction to acquire 60% equity interest in Palaeontol B.V. (a wholly-owned subsidiary of Palaeontol Cooperatief U.A. which in turn is an indirect wholly-owned subsidiary of MIE Holdings Corporation which is listed on the Main Board of the Stock Exchange of Hong Kong Limited) with a final transaction consideration of USD175.9 million. Palaeontol B.V. is an investment holding company and is the sole interest holder of Emir-Oil LLP (“Emir-Oil”) which holds the entire subsoil use rights in the Emir-Oil Concession Block located in the Mangystau Oblast in the southwestern region of the Republic of Kazakhstan with a total concession contract area of 850 km2. Reach Energy is the operator of Emir-Oil Concession Block with awarded Exploration and Production Contracts up to year 2036.