A further investment of $125m has been allocated by Singapore investment company Temasek, with all three parties set to be cornerstone investors.
Origo will use the capital to buy 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 during the next five years and bring discoveries towards development and production.
Riverstone is tapping its Riverstone Global Energy and Power Fund V for $133m of the investment, with the balance coming from Riverstone Energy Limited.
The firm’s co-founders Pierre Lapeyre and David Leuschen said in a joint statement: “Our equity commitment to Origo reflects the confidence that we have in … the team, as well as our belief in the potential for significant new discoveries in the Norwegian and UK Continental Shelves.”
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