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L1 Energy is an oil and gas investment company controlled by the Russian billionaire Mikhail Fridman, through Alfa Group, and chaired by Lord Browne. On 2 March 2015, it was announced that Lord Browne was the executive chairman, and would be renouncing his other roles to build a major new oil and gas company from scratch. L1 Energy will run DEA AG, the purchase of which was announced in March 2014 that DEA for €5.1 billion. L1 Energy will seek to build a global oil and gas company through the acquisition of platforms in Europe, North America and South East Asia.
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