US private equity major Blackstone has agreed to commit up to $800m to newly-launched Malaysian exploration and production company Tamarind Energy.
The new company will focus on growing production and reserves from producing oil and gas fields and developing discoveries.
Tamarind aims to build long-term strategic partnerships with host governments, South East Asian national oil companies and key regional stakeholders.
The company is led by CEO Ian Angell, who previously worked at Talisman Energy, Wood Mackenzie, Schlumberger Business Consulting.
Blackstone Energy Partners CEO David Foley said, “Our partnership with Tamarind is another example of our growing global energy practice and the track record we have of identifying and backing best in class managers to build world scale energy businesses.
“This investment further underlines our strong support and commitment to South East Asia following Blackstone’s Singapore office opening late last year.”
Earlier this week Blackstone bought a central London commercial property from Brookfield Property Partners in a £320m deal.
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