While the oil crisis has prompted several trend-setting oil companies such as Shell and ExxonMobil to scale down their North Sea activities, major international equity funds are increasingly setting their sights on the region, and they have in recent years invested billions of dollars in projects and acquisitions of medium-sized companies operating in the North Sea.
Funds such as US-based Blackstone and Carlyle, and British Bluewater and EIG, have in the past year built up a war chest targeted the North Sea with USD 15 billion, according to a new review by consultant Wood Mackenzie.
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