18 September 2014

Carey Olsen advises on one of the largest ever private equity investments in North Sea oil

Carey Olsen advised private equity firm Blue Water Energy on its joint venture with Blackstone to invest $500 million in Siccar Point Energy, a new North Sea focused oil company.

Blue Water Energy, a London-based investment firm that specialises in oil and gas private equity, and private equity group Blackstone led the investment which will be used by Siccar Point Energy for exploration, development and production with a strong focus on the North Sea.

Carey Olsen corporate partner Andrew Boyce and senior associate Ruth Abernethy acted in relation to the joint venture structure alongside leading onshore firm Pinsent Mason. This included structuring advice, establishing the joint venture entities and preparing documentation for the joint venture. The Carey Olsen team concurrently advised on the involvement of a new Siccar Point Energy investor alongside onshore firm Kirkland Ellis.

Carey Olsen partner, Andrew Boyce, said: “Carey Olsen has built a strong reputation for our work in the natural resources sector which has seen increased investment activity over the past year as world demand for traditional energy commodities, such as oil and gas, continues to grow.”