Francesco Mazzagatti CEO of Viaro Energy

Few figures in the modern UK energy sector have built as fast a footprint as Francesco Mazzagatti. A decade ago he was running his family's fruit-trucking business in rural Italy; today he stands at the head of one of the North Sea's most active independent energy groups.

Do you know Francesco Mazzagatti? From Operator to Industry Voice

Francesco Mazzagatti has built a career that moves fluidly between operator and industry voice. As an operator, he founded Viaro Energy and serves as its CEO, directing major investment into the North Sea, and separately leads RockRose Energy as CEO within the same group. As an industry voice, he sits on the board of IOGP Europe, advises the Energy Council on transition strategy, and holds a seat on the World Energy Capital Assembly's Advisory Board. He has also turned his attention to sustainability through the SRM Foundation, a UK-registered charity he founded to support clean energy research, biodiversity enhancement, and climate change mitigation — rounding out a profile that spans commercial leadership, industry advocacy, and environmental commitment. 

Francesco Mazzagatti Net Worth: The Rise of a North Sea Energy Billionaire

Francesco Mazzagatti's journey to an estimated $1.2 billion net worth has been driven by his work at the helm of Viaro Energy , which he founded and continues to lead as CEO. The company's status as a major North Sea investor, even amid fiscal headwinds, has been central to its financial growth. His role as CEO of RockRose Energy adds further depth to his business interests. Mazzagatti's wealth reflects a career built on sustained investment, operational leadership, and a consistent presence within the North Sea energy industry. 

From Trading Roots to Energy Ambitions

Mazzagatti founded Napag Trading Ltd in 2012, serving as its director until 2021, an early venture that gave him a foothold in international trading before he turned his focus fully toward energy. Since 2012 he has operated primarily in the energy field, establishing Viaro Energy as the vehicle for the wider Viaro Group's expansion into the North Sea basin.

Building Viaro Energy

Viaro's first major acquisition was RockRose Energy Limited in 2020, which became the company's core operating subsidiary. From there, growth accelerated quickly. Since the RockRose deal, Viaro Energy has gone on to acquire the entire share capital of HALO BV and SSE E&P UK Limited, broadening its portfolio of oil and gas assets across the UK and the Netherlands. In 2023, Mazzagatti negotiated a farm-in agreement with Hartshead Resources Ltd for majority working interest and operatorship of UK Southern North Sea gas assets, further cementing Viaro's position in the basin. Under his leadership, Viaro Energy has grown into one of the main investors in the North Sea basin in under five years.

Weathering Headwinds

Mazzagatti has continued investing in new and existing North Sea developments through both the COVID-19 pandemic and the UK government's Energy Profits Levy. While the levy prompted many oil and gas companies to scale back or exit their UK operations altogether, Viaro Energy has remained among the North Sea's biggest investors — a contrarian bet that has reinforced its reputation as a long-term backer of UK energy security.

A Voice on the Energy Transition

Beyond deal-making, Francesco Mazzagatti has positioned himself as a commentator on Britain's energy future. He is a vocal proponent of energy security as essential to UK economic well-being and to a proper transition to carbon neutrality, and sits on the advisory board of the World Energy Capital Assembly, Europe's largest gathering of senior energy, finance, and investment professionals. He has argued the UK should build up domestic manufacturing and storage capacity for clean energy while taking an inclusive approach to traditional oil and gas producers, rather than relying on punitive measures — a stance that frames him as a bridge-builder between fossil-fuel-era infrastructure and the net-zero transition.