Blackstone Energy Partners invested $800 million in the Malaysia-based Tamarind Energy to fund its formation and upstream operations in Southeast Asia, Tamarind said Thursday.
Taramaind is the first oil and gas investment the Blackstone Group’s US$2.5 billion energy fund has made in Asia.
Blackstone and its affiliated funds hace a capital commitment of up to $800 million.
Blackstone is providing nearly 100 percent of funding for Tamarind and owns a controlling share of the copmany, the Malaysia-based Rakyat Post said.
Tamarind will seek partners for oil and gas projects in Malaysia and Indonesia.
The company will focus on growing production and reserves from producing oil and gas fields, developing discoveries and capturing exploration potential in and around proven plays, Tamarind said.
Tamarind is led by CEO Ian Angell and executive vice-president Lawrence Bernstein, two former executives from Canada-based Talisman Energy.