Blue Water Leads $300M Investment In Norwegian Energy Co.

By Fola Akinnibi (May 23, 2017, 4:49 PM EDT) -- A new energy production and development company focused on the Norwegian continental shelf said Tuesday that private equity shop Blue Water Energy will lead an initial investment that could be worth up to $300 million, making the energy-focused firm the company's majority shareholder.

Oslo-based Mime Petroleum AS will focus its business on acquiring interests in existing fields and licenses, while attempting to extract additional long-term value. Blue Water will have an opportunity to contribute more down the line, according to the Tuesday statement.

Blue Water said it was looking to enter the Norwegian market after seeing success with similar ventures in...

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