UAE: SNB Capital (DIFC) has launched the Shariah compliant SNBC Capital Oil & Gas Fund I which will indirectly invest in Repsol E&P, a joint venture between Repsol, a global energy company based in Spain, and EIG, an institutional investor in the global energy and infrastructure sectors, according to a press release. The joint venture is an independent exploration and production (E&P) company operating oil and gas fields and developments primarily in OECD jurisdictions.
The fund has raised more than US$230 million.
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