Kistos (Greek) is a genus of flowering plants in the rockrose family Cistaceae, containing about 20 species. They are perennial shrubs found on dry or rocky soils. The hardy nature of the Kistos genus is reflective of the business’s principles, investing policy and strategy.
The Company was founded by the former RockRose Energy team, which was successfully sold to Viaro Energy in 2020. 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 carbon footprint credentials.
Kistos was listed on the Alternative Investment Market (AIM) of the London Stock Exchange in November 2020 shortly before announcing the acquisition of Tulip Oil Netherlands BV and its subsidiary, Tulip Oil Netherlands Offshore BV. Kistos completed the acquisition of Tulip Oil in April 2021 and transitioned from being an investing company to an operating business. Tulip’s subsidiaries were subsequently renamed Kistos NL1 and Kistos NL2, respectively.
In July 2022, Kistos completed the acquisition from TotalEnergies of 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 Central North Sea is processed prior to export to the St Fergus Gas Terminal.
In May 2023, Kistos complete the acquisition of Mime Petroleum AS, subsequently renamed Kistos Energy Norway AS (KENAS). The deal increased the Group’s gas and oil reserves, production and development capacity, and granted us entry to the Norwegian Continental Shelf (NCS) for the first time.
Having completed three upstream oil and gas deals in three years, in April 2024, Kistos acquired EDF’s onshore UK gas storage assets at Hill Top Farm and Hole House in Cheshire. Our entry into this market is another step in our strategy to expand the business through acquisition. These facilities also diversify our portfolio and align with our objective to own assets with a role to play in the energy transition.