Kistos was established in October 2020 as an energy business focused on building a balanced, long-term portfolio with high-quality production and development assets, energy storage infrastructure and energy generation projects, along with industry-leading sustainability credentials.
The company was founded by the former RockRose Energy team, led by Andrew Austin, which successfully sold to Viaro Energy in 2020, having achieved significant value creation for shareholders over a four-year period.
Listing and first transaction
Kistos was listed on AIM in November 2020 shortly before announcing the acquisition of Tulip Oil Netherlands BV and its subsidiary, Tulip Oil Netherlands Offshore BV. The transaction completed in April 2021 and the subsidiaries were subsequently renamed Kistos NL1 and Kistos NL2, respectively.
These offshore assets comprise the Q10A gas field, Q11B gas discovery, and the M10a/M11 gas development. The acquisition also included three onshore fields: Donkerbroek, Donkerbroek-West, and Akkrum-11.
Entry into the UK
In July 2022, Kistos completed the acquisition from TotalEnergies of the interests in the Greater Laggan Area (GLA) in the UK North Sea, a group of production and development assets. These comprise the producing Laggan, Tormore, Edradour and Glenlivet gas fields; the undeveloped Glendronach gas field; and the Shetland Gas Plant (SGP), where natural gas extracted from the West of Shetlands is processed prior to export to the St Fergus Gas Terminal.
Entry into Norway
In May 2023, Kistos completed the acquisition of Mime Petroleum AS, subsequently renamed Kistos Energy Norway AS (KENAS). The acquisition of interests in the Balder and Ringhorne Øst fields increased the Group’s gas and oil reserves, production and development capacity, and granted us entry to the Norwegian Continental Shelf for the first time. This transaction came with a well-established team who have a deep understanding of the assets and operations.
Purchase of gas storage facilities
Having completed three upstream oil and gas acquisitions in three years, in April 2024, Kistos acquired EDF’s onshore UK gas storage assets at Hill Top Farm and Hole House in Cheshire. These facilities also diversify our portfolio and align with our objective to own assets with a role to play in the energy transition.
