Energy Ventures Enhances Global Operating Partner Network

Energy Ventures, an independent private equity firm dedicated to funding high-growth upstream oil and gas technology companies, announced today that it has added Saad Bargach and Desmond Kong as Operating Partners to its global network.

As part of the program, Saad and Desmond will advise Energy Ventures on new investment opportunities and support portfolio companies with a presence in the Middle and Far East as well as China. They will draw on extensive E&P and oilfield service knowledge gained from working with leading companies such as Halliburton and Schlumberger.

“We are delighted to have Saad and Desmond join Energy Ventures as Operating Partners,” said Helge Tveit, Energy Ventures Managing Partner. “Their combined expertise in upstream management and international investment strategy will offer strong insight to our teams and assets in China as well as the Middle and Far East. These regions are important areas for Energy Ventures as the energy demand pendulum swings to the emerging economies, and we are pleased to have such reputable industry specialists join our network.”

Saad Bargach comes from an extensive energy background, including 23 years of oil and gas experience with Schlumberger. He most recently served as Managing Director at Lime Rock Partners where he was responsible for the firm’s international strategy, leading a diverse portfolio of E&P and oilfield service investments. Bargach currently runs an Oilfield Technology Hub with a presence in Houston and Dubai and is the chairman of several energy companies. He holds a B.S. in electrical engineering and an M.S. in control systems. Bargach will work with Energy Ventures to advance the firm’s presence in the Middle East.

Desmond Kong joins the program following a 35-year career in the oil and gas industry with 30 of these years at Halliburton where he held a number of roles, most recently Country Vice President for China. In this position Kong was responsible for growing Halliburton’s overall business in the region with special emphasis on developing a sustainable service model partnering with Chinese organizations. Before taking on this role in 2007, he was the Vice President of the Halliburton Digital Consulting Solutions Division for the Asia Pacific Region. Prior to his retirement, Mr. Kong focused on securing merger and acquisition opportunities to enhance Halliburton’s inorganic growth. Kong earned a Bachelor of Science degree in physics and applied physics from the University of Singapore. His addition to the Operating Partner program will aid Energy Ventures operations in the Far East and China.

“I am excited to join Energy Ventures as an Operating Partner and for the opportunity to help the firm and its portfolio companies grow their influence in the Middle East. Energy Ventures possesses a considerable knowledge of the global energy industry in addition to invaluable market insight, and I look forward to working with their experienced team,” said Bargach.

Kong added: “China’s energy landscape continues to be a growing market and one that presents a unique opportunity for companies like Energy Ventures that focus on fostering high-growth technology companies. I greatly look forward to helping the firm and its portfolio expand their presence and establish key relationships in the region.”