Prime Infrastructure Capital Inc. has acquired the entire stake of global investment firm Carlyle in Colombia’s SierraCol Energy Ltd., marking An international expansion into the upstream oil market for the firm led by billionaire Enrique Razon.
SierraCol is the largest independent oil producer in Colombia and accounts for 10 percent of the country’s total oil output. Its asset base includes two major fields, Caño Limón and La Cira Infantas, which produce high-quality crude and remain connected to key infrastructure and markets.
The parties did not disclose financial details of the transaction but expect the deal to close next month. Under the investment period of Carlyle, SierraCol invested nearly $1 billion in capital expenditure to generate over 100 million barrels of oil equivalent in additional reserves.
Prime Infra president and chief executive Guillaume Lucci said the company is excited to acquire the preeminent independent oil and gas firm in Colombia.
“This acquisition strengthens our oil and gas expertise and complements our existing asset base in the Philippines,” Lucci said.
“Together, these capabilities position us to operate across the oil and gas value chain — from upstream to downstream, onshore and offshore — and to participate in the sector’s growth against the backdrop of a broader commodities supercycle,” he said.
SierraCol executive chairman Tony Hayward welcomed Prime Infra as a strategic investor that will contribute to the sustainability of the business and provide access to long-term capital.
“SierraCol’s leadership team is pleased to remain and continue to deliver during this new and promising stage,” Hayward said.
He also thanked Carlyle for the strategic guidance provided over the past five years.
Prime Infra is a major infrastructure developer in the Philippines with a portfolio spanning clean water, waste management and energy.
Its subsidiary, Prime Energy Resources Development B.V., operates the Malampaya Deep Water Gas-to-Power Project in northwest Palawan.
The firm’s energy assets include gas-fired power plants and large-scale pumped storage projects designed to support grid stability and energy security.
