Wellesley focuses on exploration
The new entrant wants to find new resources in mature areas
Wellesley Petroleum, a Norwegian continental shelf (NCS) independent backed by private equity (PE) firm Blue Water Energy is one of the area's most active current explorers. Its 2018 work plan encompasses nine explorations wells, four of which it will be operator. Chris Elliott, previously deputy exploration director at Revus Energy, which was funded by PE firm 3i, as well as co-founder of Agora Oil and Gas, of which Rothschild investment fund RIT Capital Partners was a backer, is Wellesley's CEO. He recently spoke to Petroleum Economist editor-in-chief Peter Ramsay. Edited highlights follow. PR: Is it fair to say that "PE in the North Sea" is almost a misleading term, given that the differ
Also in this section
28 April 2026
Oil traders warning of $200/bl oil are wrong, and the market should be wary of proclamations that the impact of the oil shortage has only begun to be felt and a that a ‘harsh adjustment’ is coming—even for industrialised nations
28 April 2026
Restoring supply from Saudi Arabia, the UAE, Kuwait, Qatar, Bahrain and Iraq involves complexities far beyond simply adjusting operational controls
28 April 2026
Datacentres will guzzle power at a ferocious rate, but the impact on wider energy markets will be far more complex than previously thought
28 April 2026
The key energy player faces balancing regional routes, political complexities, and creating a clear strategic vision for energy security
