Private equity firms Riverstone Holdings and Barclays Natural Resource Investments have each invested $200 million in Origo Exploration AS, an oil exploration company. Singapore-based investment company Temasek will contribute an additional $125 million investment.

Origo is headquartered in Stavanger, Norway, and will acquire exploration licenses in the Norwegian and U.K. continental shelves through farm-ins, license rounds and M&A activity. The company is planning to drill around 25 exploration wells over the next five years, and then move towards development and production.

Riverstone's investment is made up from $133 million from Riverstone Global Energy and Power Fund V and $67 million from Riverstone Energy Ltd. The New York firm focuses on energy investments. In July, Riverstone and PE firm Kohlberg Kravis Roberts & Co. LP (NYSE: KKR) formed a shale oil and gas company. 

In January, Riverstone-backed Fieldwood Energy LLC bought SandRidge Energy Inc.'s (NYSE: SD) Gulf of Mexico and Gulf Coast business unit for $750 million. 

Barclays Natural Resource, headquartered in London, focuses on investing in natural resources. The company was founded in 2006 and has committed about $3.5 billion in capital to 30 companies.

Vinson & Elkins advised Riverstone and Barclays on the deal.