Blackstone

Blackstone hits gas as US majors retreat from SE Asia

Blackstone and Tamarind talk to FinanceAsia about M&A openings created by North American oil & gas giants retreating from the region.

Blackstone is pouring up to $800 million into a startup called Tamarind Energy, which will join a small but growing band of independent exploration and production companies drilling for oil and gas across Malaysia and Indonesia.

The US group's first investment in the Southeast Asian oil and gas sector comes as many North American international oil companies IOCs sell assets across the region and Southeast Asian governments strive for greater energy self sufficiency.

Both trends are creating opportunities for Kuala Lumpur-headquartered Tamarind to partner with state-owned oil companies such as Pertamina and Petronas and buy assets from retreating IOCs. Other small exploration and production firms...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222