Tamarind Energy and Blackstone Energy Partners to form $800M partnership with a focus on SE Asia oil and gas development
31 July 2014
Tamarind Energy, a new exploration and production company headquartered in Kuala Lumpur, announced its formation with a commitment from Blackstone Energy Partners. The Tamarind team comprises senior executives with experience across a range of basins in South East Asia. Tamarind will focus on growing production and reserves from producing oil and gas fields; efficiently developing discoveries; and capturing exploration potential in and around proven plays to build a high-quality portfolio.
Blackstone Energy Partners and affiliated funds have provided a capital commitment of up to US$800 million alongside Tamarind management, to create a significant upstream company with an emphasis on building long-term, strategic relationships with host governments, South East Asian national oil companies and key regional stakeholders.
The Tamarind team has always welcomed the opportunity to develop and improve performance of fields which others put in the ‘too hard’ basket. Given our approach, which begins with a regional geological perspective, we are able to pursue innovative reservoir management with fit-for-purpose facilities to find and develop reserves. We then knit this together with creative commercial solutions that can add significant value for our partners and host governments.—Ian Angell, Tamarind CEO
Blackstone Energy Partners is Blackstone’s energy-focused private equity business, with a record built on Blackstone’s industry expertise and partnerships with exceptional management teams. Blackstone has invested approximately $7 billion of equity globally across a broad range of sectors within the energy industry.
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