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ENERGY NEWS

 
     
 

3i strengthens oil & gas team

Posted: 13 September 2004

3i, Europe ’s leading venture capital and private equity company, has strengthened its oil and gas team with the appointment of Mike Sibson as an investment director.

A chartered engineer, Mr Sibson (32) has moved to 3i’s Aberdeen-based oil and gas team from the company’s venture capital team based in Cambridge where he worked for four years.

Mr Sibson, who has a Masters degree in engineering from Cambridge University, worked as a drilling engineer for Shell on a deepwater exploration programme in Angola and Congo, before completing a one-year MBA course at the Insead international business school in Paris. He joined 3i in 2000.

He said: “3i’s venture capital team is in great shape and I’ve had a terrific four years working as part of it.

“But I never lost my interest in the energy industry, and joining the team in Aberdeen will enable me to combine my venture capital experience with my engineering background.”

3i head of oil and gas Graeme Sword said: “Mike’s experience of investing private equity, and his background as a trained oilfield engineer mean that he will be a great asset and enhance the dynamics of our expanding team.

“3i is committed to backing talented, ambitious and dynamic management teams, and we have seen a significant rise in activity in our sector. Mike’s appointment brings our oil and gas division up to five people, and we will be looking to enhance the team further by recruiting an investment executive.

About 3i
3i has an unparalleled track record of investing in high growth successful oil and gas companies. With 40 companies in the oil and gas portfolio, 3i is Europe 's most active investor in the oil and gas sector. 2004 has brought an investment in Terra Seismic, a new 4C seismic tech nology company providing marine seismic acquisition services to the international oil and gas industry. 2004 has also seen 3i sign an agreement as part of a private equity syndicate to acquire ABB's upstream oil and gas business, including Vetco Gray for more than £500 million. The new Group will be known as Vetco International. 3i also recently announced the $15m investment in Singapore ’s Pearl Energy as well as in the Finnish oil spill response company Lamor Corporation.

3i is a world leader in private equity and venture capital. We focus on buyouts, growth capital and venture capital and invest across Europe, in the United States and in Asia Pacific. Our competitive advantage comes from our international network and the strength and breadth of our relationships in business. These underpin the value that we deliver to our portfolio and to our shareholders

For more information see www.3i.com

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Posted by Richard Price, Editor EnergyME.com

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