Viaro Energy CEO Francesco Mazzagatti is a vocal proponent of the importance of energy security for the economic well-being of the UK and for a proper transition to carbon neutrality. He has consistently invested in new and existing developments in the North Sea throughout the COVID-19 pandemic and the Energy Profit Levy (EPL) imposed by the UK government.
While the EPL has driven a significant number of oil and gas companies to abandon or wind down their UK operations, Mazzagatti’s Viaro Energy is currently considered one of the biggest investors in the North Sea. Esteemed industry experts have repeatedly recognized the North Sea as Europe’s most effective solution to securing a stable energy transition and alleviating supply concerns.
Mazzagatti is also a member of the 2023 advisory board of the World Energy Capital Assembly, Europe’s largest gathering of senior energy, finance, and investment professionals. The event is organized by the Energy Council, the world’s leading network of energy executives contributing to strategies, policies, and business decisions concerning the energy transition.
To read more about Mazzagatti’s business strategy and stance on energy security, please visit the links below.
With interests in more than 30 fields in the North Sea, Viaro Energy has quickly established itself as a household name on the UK Continental Shelf. Pursuing a strategy of targeted M&A opportunities, the company has consistently capitalised on unfavourable market conditions through continuous investments in both exploration and production assets, made more affordable by the accompanying economic downturn.
Ahead of his participation in the World Energy Capital Assembly 2023, Francesco Mazzagatti caught up with us for an executive interview centred around Investment in E&P and the North Sea. Francesco, it has been a while since we last spoke but Viaro Energy appears to have been as busy as ever in 2023. You started out with the acquisition of Spark Exploration UK’s West of Shetland assets, followed by the farm-in agreement with Hartshead Resources for the operatorship of gas fields in the Southern North Sea. Can you tell us a bit more about Viaro’s strategic direction in 2023 and the foreseeable future?
Although the United States has had a long trend of non-renewable consumption, the tides are turning. Many companies are working hard to break this cycle, moving towards renewable consumption. In this interview series, we are talking to business leaders who are sharing the steps they are taking toward renewable consumption. As part of this series, we had the pleasure of interviewing Francesco Mazzagatti.
Francesco, thank you for taking part in the first of our executive interview series for 2023. It is a pleasure to also have you join the advisory board of the World Energy Capital Assembly. It’s obviously been an exciting and successful couple of years at Viaro Energy to say the least – at a time when a lot of companies in the gas exploration and production sector were struggling to stay afloat, you made what some would call a rather risky move by making two substantial acquisitions within a single year. Can you tell us how you were able to recognize these opportunities and about your risk appetite in general?