StockMarketWire.com - Riverstone Holdings will be one of three cornerstone investors in new Norway and UK-focused exploration and production ("E&P") company Origo Exploration AS ("Origo").

Riverstone and Barclays Natural Resource Investments ("BNRI") will each contribute USD 200 million of funding to Origo, while Singapore-based investment company Temasek will contribute an additional USD 125 million.

The Riverstone commitment comprises $133 million from Riverstone Global Energy and Power Fund V ("Fund V") and $67 million from Riverstone Energy Limited ("REL").

The investment in Origo exemplifies Riverstone's strategy of creating value by utilising management teams with proven knowledge and expertise in the energy and power industry.

Origo, headquartered in Stavanger, is led by Andrew Armour, Timothy Sullivan, Svein Ilebekk, Kent Høgseth and Ørjan Gjerde, all highly-experienced professionals from the E&P industry in Norway and the UK.

Origo will acquire exploration licences in the Norwegian and UK continental shelves through farm-ins, licence rounds and focused M&A activity. It plans to participate in the drilling of around 25 exploration wells over the next five years and, where appropriate, bring discoveries towards development and production.






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