The Oil and Gas Holding Company B.S.C. (closed) (“nogaholding”) has appointed Lazard Frères SAS, one of the world’s leading independent financial advisory firms, as the company’s strategic financial advisor to assist in the development of the Group’s short-to-medium term financial strategy.

Through this partnership, nogaholding aims to establish a comprehensive financial strategy that aligns with its ongoing efforts to transform into a sustainable energy company. Lazard’s role as a strategic financial advisor with extensive experience in the energy and oil and gas sectors, will enable the company to meet its strategic objectives.

Commenting on the appointment, Mark Thomas, Group CEO of nogaholding, said: “We are pleased to be partnering with Lazard to facilitate the development of a financial strategy for nogaholding and its operating companies. Setting a robust financial framework in place will ensure that nogaholding remains on track with its transformation into a sustainable energy company. This will enable us to deliver long-term business growth and a more efficient method of operation.”

Lazard Frères SAS, one of the world’s preeminent Tier 1 financial advisory and asset management firms, operates from more than 41 cities across 25 countries. The firm provides advice on mergers and acquisitions, strategic matters, restructuring and capital structure, capital raising, and corporate finance, as well as asset management services to corporations, partnerships, institutions, governments, and individuals.