Riverstone, Barclays and Temasek Pump $525M into Origo
August 27, 2014
Riverstone Holdings, Barclays Natural Resource Investment and Temasek Holdings have agreed to invest a combined $525 million (€398 million) in newly formed Norwegian oil and gas company Origo Exploration. Riverstone and Barclays will each contribute $200 million (€152 million); Temasek, the investment arm of Singapore's government, will offer $125 million (€95 million). Origo plans to focus exploration and production in Norway and the U.K., with intentions of drilling approximately 25 exploration wells in the next five years. Riverstone’s funding includes $133 million from Riverstone Global Energy and Power Fund V and $67 million from Riverstone Energy Limited.