L1 Energy Explained

L1 Energy is an oil and gas investment company controlled by the Russian billionaire Mikhail Fridman, through Alfa Group, and chaired by Lord Browne.

On 2 March 2015, it was announced that Lord Browne was the executive chairman, and would be renouncing his other roles to build a major new oil and gas company from scratch.^[1]

L1 Energy will run DEA AG, the purchase of which was announced in March 2014 that DEA for €5.1 billion. L1 Energy will seek to build a global oil and gas company through the acquisition of platforms in Europe, North America and South East Asia.^[2]

Advisory board

As of August 2023:^[3]

• Lord Davies of Abersoch, Non-Executive Chairman
• Jonathan Muir, Chief Executive
• Franz Humer Non-Executive Director
• Richard Burt, Non-Executive Director
• Wulf von Schimmelmann, Non-Executive Director
• Vitalij Farafonov, Chief Operating Officer

Notes and References

1. News: Reed. Stanley. Russian Energy Deal Comes at Contentious Time. 8 March 2015. New York Times. 2 March 2015.
2. News: Macalister. Terry. Ex-BP boss aims to build major energy industry player from scratch. 8 March 2015. The Guardian. 8 March 2015.
3. Web site: Our Board . 7 July 2023 . www.letterone.com.