Singapore-based sovereign wealth fund GIC also participated in the investment round.
Siccar will initially focus on projects in the UK continental shelf, looking to take assets from exploration through to production.
The company is led by CEO Jonathan Roger, who previously served as managing director of Centrica Energy Upstream and COO of Venture Production.
Blackstone Energy Partners managing director Mustafa Siddiqui said, “Blackstone has invested approximately $7bn of equity in the energy sector over the last decade, the majority of which has been to fund the formation of new companies and capital expenditure needs of existing high-growth companies led by exceptional, entrepreneurial management teams.
“We are impressed with the capabilities of Jonathan and his team and look forward to partnering with them and Blue Water Energy to build Siccar Point into a leading independent oil & gas company.”
Blue Water closed its debut fund on its hard cap of $863m in May last year.
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