Business | Investment

Blackstone. LLOG Exploration to invest $1.2b

Funds will strengthen the offshore oil producer’s operations in Mexico

  • Reuters
  • Published: 13:14 November 13, 2012
  • Gulf News

New York: Private equity firm Blackstone Group LP and LLOG Exploration Company LLC will jointly invest $1.2 billion (Dh4.4 billion) to strengthen the offshore oil producer’s operations in Mexico, the two firms said on Tuesday.



“LLOG is a highly efficient deepwater operator, with the history and ability to accelerate development, minimising the time frame to first production and significantly increasing project returns,” said Angelo Acconcia, managing director of Blackstone Energy Partners.

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