3i is a global partner for companies in the upstream oil and gas sector.  We made our first investment at the beginning of the North Sea oil and gas industry in the 1970s. Since when we have invested in some of the leading companies in the oil service and the exploration and production sectors. We have a portfolio of 20 companies with a value over €450m.  We focus on supplying growth capital to expanding businesses and buying existing businesses with growth potential.  On a selective basis, we also make early-stage venture investments in exciting oilfield technologies.

The upstream sector has two main elements:

• Exploration and production (E&P) companies discover, develop and produce hydrocarbons, own and licence reserves, and finance and manage operations.
• Oil services are mostly contracted out to a large and broad sector, which provides products, people and technology for all elements of drilling, evaluation, development, construction and production.

We also invest in the midstream gas and power sector, which includes companies that develop, generate, store and transmit energy.

The changing dynamics of the industry are creating numerous opportunities for private equity to support entrepreneurial companies with ambitious management:

• The oil, gas and power service industry is showing strong growth driven by increasing global energy demand.
• High oil prices are here for the foreseeable future, driven by economic growth in Asia.
• Reserves are concentrated in the Middle East and Russia, benefiting those who can operate there successfully.
• Elsewhere, the industry is fragmenting as established producing areas like the North Sea, Gulf of Mexico and Southeast Asia mature.

As one of the world’s leading investors in the sector, we help oil, gas and power companies to capitalise on these opportunities, using our deep insight and global networks to add value.

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