First Energy Bank B.S.C.(c) (”FEB” or the “Bank”) is an Islamic investment bank licensed by the Central Bank of Bahrain and headquartered in Manama, Kingdom of Bahrain.
FEB’s founders believe that the global energy sector and the Middle East and North Africa (MENA) region offer excellent opportunities for private equity and Islamic financial investment First Energy Bank offers investors unique and specialized opportunities that capitalize on the MENA region’s status as the center for world energy.
The Bank focuses on investments in the production, transportation, storage and refining of hydrocarbons, as well as oilfield services and energy sector technologies. FEB also explores new opportunities to invest in the development of power generation capacity and renewable energy technologies.
FEB operates in accordance with Islamic Sharia’a principles as a financial partner in project development, joint ventures, mergers and acquisitions and the purchase of assets and asset portfolios.
FEB was established with an authorized capital of US$2 billion, consisting of 2 billion ordinary shares each with a par value of US$1. The bank’s shareholders include a range of organizations and individuals with interests in the energy sector from the Kingdom of Bahrain, the United Arab Emirates, Libya, the Kingdom of Saudi Arabia, and other countries in the region.
FEB has a host of recent accomplishments highlighting the strength of its team and the soundness of its investment strategy. These include the successful construction completion of MENAdrill I and MENAdrill II offshore rigs under MENAdrill Investment Company. Further MENAdrill I was successfully deployed in the Gulf of Mexico to commence drilling under a charter contract. Another successful milestone is the achievement of Early Commercial Operation of Al Dur Independent Water and Power Production (IWPP) project in which FEB is ultimately a 9% owner.