Private equity firms on shopping spree in the North Sea

Eight private equity firms have been building up major stakes in oil production in the North Sea. Now one of them plans an IPO which, according to Energy Research & Consultancy Wood Mackenzie, will be closely monitored.

Photo: /Ritzau Scanpix/Claus Bonnerup/

Lately, a number of private equity firms have made several acquisitions in the North Sea.

One of them, Seacrest Capital, holds a 77 percent stake in the Norwegian oil and gas development company Okea and plans to bring the firm's equity to market via an IPO within the next 12 months. This process will be monitored closely by the other PE firms, writes Wood Mackenzie.

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