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.