India-focused Magna Energy Ltd will achieve an investment of over $500 million, as committed by Carlyle Group. Magna Energy Ltd is basically an upstream oil and gas company led by Jann Brown and Mike Watts.
Combining 60 years of experience in oil industry, Magna Energy is seeking to acquire and secure local licenses in the Indian sub-continent with a primary focus on production and development.
The buyout shop is planning to make the investment through its Carlyle International Energy Partners. It basically focuses on oil and gas production and exploration.