close
Larry Kinch
Oil, Gas services
Rank 2017
13
Worth
£90m
Rise/fall
-
Kinch is turning his attention to North Sea oil again after seven years focusing on plans to frack for shale gas in the northwest of England through his 70% stake in Aurora Energy Resources, based in Aberdeen. Last year he was reported to be in talks to run the promising Bagpuss oilfield with a partner. Kinch, 63, netted £25m from the £111m sale of Petroleum Engineering Services in 2000 and made £92m when his next oil and gas business, Venture Production, was taken over in 2009 in a £1.3bn deal. He grew up in Aberdeen, his mother's home town, and learnt the ropes in the oil industry working for Schlumberger in Norway. Other interests, including Aurora Petroleum, with £3.3m net assets in 2015, take him to £90m, allowing for tax and reinvestment of sale proceeds. Kinch's collection of classic cars features a 1960 Ferrari 250GT.