Pelham PR picked for Sinochem takeover of Emerald Energy

Pelham PR has been brought in by Chinese state-owned Sinochem Corporation for its proposed £532m takeover of UK-listed Emerald Energy.

Oil exploration: Emerland Energy to be brought by Sinochem
Oil exploration: Emerland Energy to be brought by Sinochem

Emerald, the oil and gas exploration firm, has significant interests in Syria and Columbia and the tie-up will reinforce enable the Sinochem to strengthen its position in the Middle East and South America

Sinochem is one of China's largest state-owned enterprises focusing on energy, agriculture, chemicals, finance and real estate. It is China's fourth largest oil company has was recently ranked as the 170th largest company in the Fortune Global 500.

The Sinochem account is being led by Pelham chief executive James Henderson, supported by directors Andy Cornelius and Mark Antelme and account executive Henry Lerwill.

The deal was announced on Wednesday and has approval from the Emerald board.

Currently consolidation is rife in the energy sector, with the Sinochem deal following the proposed $6bn merger between Heritage Oil and Turkey;s Genel Energy and the $7.6bn takeover of Addax Petroleum by Sinopec announced in June.

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