HitecVision pumps $150m into Oyster Petroleum

The investment came from HitecVision VI, a $1.5bn fund closed in December 2011 after only four months on the road.

Company
Oyster Petroleum is an exploration and production start-up focused on finding new reserves in the UK North Sea.

The company is led by experienced members of the oil and gas industry; Richard Morgan, Nigel Platt and Dave Went have previously worked at Valiant Petroleum, Sussex Energy and Veritas among other high-profile exploration and production companies.

People
Oyster Petroleum is managed by Richard Morgan as CEO, Nigel Platt and David Went. Harald Vabø is senior partner of HitecVision and has joined Oyster Petroleum's board as non-executive director.

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• Topics
• Expansion
• UK / Ireland
• HitecVision