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Energy & Utilities

Norton Rose Fulbright advises PTTEP and Pertamina on US$1.3 billion Indonesian oil & gas acquisition

05 Dec 2013

Norton Rose Fulbright is advising PTT Exploration and Production Public Company Limited (PTTEP) and Pertamina Hulu Energy (a subsidiary of Pertamina) on acquiring all of Hess's Indonesian oil & gas producing assets for total consideration of US$1.3 billion.

This transaction is one of the largest acquisitions in the Indonesian oil and gas space to date, it comprises two significant participating interests in the Natuna Sea A Project and the Pangkah Project.

Hogan Lovells Advises PDVSA on US$1 Billion Financing Deal with Russian Bank

04 Dec 2013

Hogan Lovells advised Venezuela’s state oil company Petroleos de Venezuela (PDVSA) in its US$1 billion loan transaction from Russia's Gazprombank.

The eight-year loan, which was finalized on 28 November, will go towards expanding infrastructure and increasing production at the Petrozamora oil project to 104,000 barrels per day from 63,000 currently. Funds from the deal are expected to become available in January 2014.

Ashurst advises Serinus Energy on US$60 million EBRD financing for Tunisia

02 Dec 2013

Ashurst acted as international counsel to Serinus Energy Inc, an international upstream oil and gas exploration and production company, on the signature of two loan agreements in the aggregate amount of US$60 million with the European Bank for Reconstruction and Development. The financing will assist Serinus Energy in funding the capital programme being planned for its recently acquired oil and gas fields in Tunisia.

Hogan Lovells advises EDF in relation to the sale of its stake in SSE in Slovakia

02 Dec 2013

Hogan Lovells advised EDF in relation to the sale of its minority stake of 49% in Stredoslovenska Energetika (SSE) to Energeticky a prumyslovy holding (EPH). This transaction has been approved by SSE's general shareholders meeting and was cleared by the competition authorities. It values the 49% stake of EDF in SSE at approximately 400 million euros.

SSE is the second largest electricity distribution and supply operator in Slovakia and EPH is a leading Czech-based Central and Eastern Europe energy company.

Linklaters advises on the sale of the first bond financed offshore transmission deal

02 Dec 2013

Linklaters has advised Greater Gabbard Offshore Winds Limited, whose shareholders are SSE and RWE, on the successful disposal of the Greater Gabbard transmission assets to Greater Gabbard OFTO plc, a consortium of Balfour Beatty Investments, Equitix and AMP Capital Investors.

The wind farm, comprising 140 Siemens 3.6MW wind turbine generators off the Suffolk coast which became fully operational in September 2012, is the second largest operational offshore wind farm in the world and has a generating capacity of up to 504MW which is enough to power over half a million homes.

Watson, Farley & Williams Asia Practice advises Matra Petroleum on its entry into US onshore oil & gas sector

02 Dec 2013

Watson, Farley & Williams Asia in Singapore (“WFW”), has advised AIM-listed, Matra Petroleum Plc (“Matra”) through its wholly-owned subsidiary, Matra Petroleum U.S.A., Inc. ("Matra USA") on entering an agreement allowing it to make a series of investments into the US onshore oil and gas sector (the “Purchase Agreement”).

Burges Salmon advises Infinergy on sale of two operational wind farms

29 Nov 2013

Burges Salmon has advised long-standing client Infinergy Limited on the sale of two operational wind farm projects. A team of corporate lawyers, comprising partner Camilla Usher-Clark, senior associate Jonathan Eves and solicitor Gillian Saunderson with assistance from the firm’s Real Estate and Tax departments, acted for Infinergy in the transaction.

The transaction was effected through the sale of Wind Assets LLP, the limited liability partnership holding the Castel Pill and Ferndale wind farms, to John Laing.

Norton Rose Fulbright advises Lekoil Limited on £62 million placing

27 Nov 2013

Norton Rose Fulbright has advised Lekoil Limited, the AIM listed oil and gas exploration and development company with a focus on Nigeria and West Africa, in relation to the placing of 113,282,000 new Ordinary Shares at a price of 55 pence per Ordinary Share, raising gross proceeds of approximately £62 million.

The placing was conducted in two stages. The first placing shares were admitted to trading on AIM on 6 November 2013 and the second placing shares were admitted on 22 November 2013.