International law firm Pinsent Masons has advised Blue Water Energy (BWE), the energy-focused private equity house, on a syndicated $250 million (£163 million) investment into a new North Sea oil and gas explorer.

Wellesley Petroleum will focus on exploration activity in the Norwegian North Sea through licensing rounds, farm-ins and acquisitions. The new entrant has been launched by a diverse and experienced management team, including former Agora and Cairn Energy Norwegian operations manager Callum Smyth, and former RIT Capital Partners private equity specialist Olivier Hopkes.

Last year, Pinsent Masons advised Blue Water Energy on the $500 million (£325 million) investment and launch of UK Continental Shelf (UKCS) explorer, Siccar Point.

This latest investment brings the aggregate commitment of BWE and its partners including GIC, the Singaporean sovereign wealth fund, to three quarters of a billion dollars ($750,000,000) in less than six months.

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