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TURKEY WINNER - CEM SAYER
DEAL: 4D Global invests $17m in Aladdin Middle East NAME: Cem Sayer COMPANY: Aladdin Middle East Ltd POSITION: President and Chairman of the Board TEL: +90-312-427 9020 EMAIL: cemsayer@ame.com.tr
About Aladdin Middle East Ltd
Aladdin Middle East Ltd. (“AME”) is an independent American oil and gas exploration and production company organized in 1961 and focused on the strategic exploration and exploitation of oil and gas assets primarily in Turkey. AME’s head office is in Wichita, Kansas, while the Company’s operational headquarters is located in Ankara,
Additional field offices are located at operating sites for AME’s production leases.
My family has worked diligently for all these years to build it into the exemplary corporation it is today. Thanks to our commitment to excellence and to our experienced, dedicated professional staff, AME has been a trusted name in the Turkish petroleum industry for over 50 years. Throughout all these years, we have strived to build up a wealth of institutional knowledge about the Turkish oil and gas market, including everything from the country’s unique geology to the laws and regulations which govern the industry. AME has excellent relationships with all of Turkey’s most important industry players, in both the private and public sectors. Unlike in the early days when we started our operations, there is now a fairly well developed oil and gas industry in Turkey that has ultimately enabled us to exit the very competitive drilling contract business, allowing us to concentrate our efforts more fully on the oil and gas exploration and production projects which are still the primary focus of AME going forward.
Today, the Company holds a balanced portfolio of exploration and production assets that have short,medium and long term potential with over 500,000 hectares of onshore exploration and production licenses and leases mainly in the Southeast Turkey Basin (North Arabian Shield).
AME has been crucial in the development of Turkey’s upstream sector. Through AME’s efforts many underexplored basins in Turkey have been evaluated,
Turkey.
yielding a vast amount of technical, geological and geophysical information bringing not insignificant financial and social benefits for Turkey. With its rich data-base and library of information, AME has helped to attract a large number of American and European energy companies to Turkey as first time investors in the oil and gas sector.
AME is an industry leader in the Turkish upstream and the most senior private player, the country second only to TPAO, the national oil company. AME’s success is a credit to our superior staff of professionals whose dedication, knowledge and skill allow AME to find new and innovative ways to develop value for our partners and investors.
AME is committed to respecting the environment, maintaining safety and upholding high standards of social responsibility throughout its operations. AME’s success is built on technical expertise, business acumen, strong partnerships and proven ability to deliver superior results.
Every indicator shows that global oil demand will continue to grow and AME is positioned like never before to increase production and achieve higher returns due to its favorable structure.
At AME, we strive each day to live up to the legacy of excellence associated with our Company name, and I know that we will continue to grow value for our shareholders with our promising oil and gas exploration and development projects. Earlier this year AME raised US$20 million in new equity from 4D Global Energy Advisors SAS (“4DGEA), a Paris- based private equity investor that specializes in the energy sector.
The equity financing will enable AME to finance its committed and contingent work programmes
and working capital to build on its asset base in the Republic of Turkey.
In a recent interview Cem Sayer, Chairman of the Board and President of AME, commented: “Over the past two years, we have focused on restructuring AME to realize the value in AME’s promising oil and gas assets and to enable us to use that existing asset base to accelerate growth in the Company. In particular, we exited the drilling services sector, enabling us to concentrate solely on E&P projects. We are extremely pleased to welcome 4DGEA into AME, and we believe their investment will prove to be profitable both for 4DGEA and for our other investors.”
Mr. Sayer added, “AME is uniquely positioned as the oldest independent oil and gas company in Turkey, with in-depth knowledge, data and expertise in the region, and will look to continue to develop its core business, participating in several existing Joint Ventures in South East Turkey, exploiting its new oil discoveries, and participating in new projects in The country and the surrounding region. AME, strengthened by 4DGEA, is well positioned to capitalize on both conventional and unconventional oil and gas production opportunities in Turkey, and to benefit from the country’s favorable fiscal terms. This is indeed a new and exciting chapter in AME’s long history.”
Tighe Noonan, the founding partner of 4DGEA, recently joining the AME Board said, “We are extremely pleased at the prospect of working together with Cem and his team both at the Board and Shareholder levels, and of bringing our experience and industry knowledge to the Company as Cem seeks to grow the business. Under his leadership, we are confident that AME will be able to fully deploy its exceptional asset base and to fulfill the aspirations of its visionary Founders”.
Deal Maker of the Year Awards 2013