Norwegian private equity group HitecVision is eager to deploy about $1.1 billion of capital on oil and gas investments across the North Sea “as soon as possible”, with spending on renewables also in sight.

HitecVision has about $1.9 billion of equity available, a combination of its latest North Sea Opportunity Fund (NSOF) — which had its final close in March — and cash remaining from two earlier funds — Fund 6 and Fund 7, UK-based senior partner John Knight told Upstream in an interview.