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Energy & Utilities

Premier Oil Exploration and Production - Heads of Agreement with Falkland Oil & Gas and Rockhopper Exploration (Oil)

04 Oct 2013

Slaughter and May, working with the in-house team at Premier Oil Exploration and Production Limited ('Premier'), advised Premier on heads of agreement ('Heads of Agreement') with Falkland Oil & Gas Limited ('FOGL') and Rockhopper Exploration (Oil) Limited ('Rockhopper') with respect to a farm-out of Falkland Islands oil and gas exploration licences (the 'Farm-Out'); and related arrangements between Premier and Rockhopper.

Norton Rose Fulbright advises Siam Commercial Bank Public Company Limited on financing of ten solar power projects

03 Oct 2013

Global legal practice Norton Rose Fulbright has advised The Siam Commercial Bank Public Company Limited on its financing of ten solar PV projects with an aggregate capacity of 72MW. The ten projects consist of seven 8MW solar power projects, two 6MW solar power projects, and one 4MW solar power project.

The ten projects are owned by Soleq Pte Ltd and Soleq Solar (Thailand) Co., Ltd., which are the investment vehicles of Equis Fund Group. Equis Fund Group is one of the largest energy and infrastructure investors in Asia.

Norton Rose Fulbright advises Pacific Rubiales on $1.6 billion acquisition of Petrominerales

03 Oct 2013

Norton Rose Fulbright acted as Pacific Rubiales Energy Corp.'s exclusive transaction counsel in its announced strategic acquisition of Petrominerales Ltd. The total purchase price of the all-cash deal will be approximately C$1.6 billion. The Arrangement is expected to close in the fourth quarter of 2013.

Spike Exploration Holding - recommended voluntary cash tender offer for Bridge Energy

03 Oct 2013

Slaughter and May, working as a team with BA-HR, is advising Spike Exploration Holding AS ('Spike Exploration') and HitecVision on a recommended voluntary cash tender offer to acquire the entire issued share capital of Bridge Energy ASA ('Bridge') for approximately NOK 967 million (£103 million).

The offer, which was announced on 16 September 2013, is to be financed by way of available cash resources of Spike Exploration.

Ashurst advises Iona Energy on issuance of USD275m senior secured bonds

01 Oct 2013

Ashurst has advised Iona Energy on its issuance of US$ 275 million senior secured bonds.

The purposes of the bond issue include refinancing Iona Energy's senior secured borrowing base facility, retirement of all or parts of its structured energy derivative transaction and the development of the Orlando and Kells projects.

The bond has the usual comprehensive security package including a charge over Iona Energy's interest in the Huntington, Trent & Tyne, Orlando and Kells fields.

Pinsent Masons advises London Array consortium on £459 million wind farm disposal

01 Oct 2013

Pinsent Masons has advised London Array, a joint venture between DONG Energy, E.ON and Masdar, on the £459 million disposal of the offshore wind farm’s transmission assets to Blue Transmission London Array Limited – a consortium comprising Barclays Infrastructure Funds Management Limited and Diamond UK Transmission Corporation (a wholly owned subsidiary of Mitsubishi Corporation) – advised by Macquarie Capital.

Herbert Smith Freehills advises Santos on its acquisition of stake in the Northwest Natuna PSC from AWE

27 Sep 2013

Herbert Smith Freehills has advised ASX-listed oil and gas producer, Santos Limited (Santos), on its acquisition of a 50% interest in the Northwest Natuna Production Sharing Contract (PSC) from AWE Limited, for up to US$188 million.

Under the terms of the farm-in, Santos will also assume operatorship of the undeveloped Ande Ande Lumut oil field which has been independently assessed to contain an estimated gross proved and probable (2P) reserves of approximately 100 million barrels of oil.

SunEdison Closes Financing for Chilean Solar Power Plant

27 Sep 2013

Skadden represented affiliates of SunEdison, Inc., one of the world's leading solar project developers, in a $212.5 million nonrecourse debt financing with the International Finance Corporation, a member of the World Bank Group; and the Overseas Private Investment Corporation, the U.S. government’s development finance institution. The financing closed on September 12, and the debt proceeds will be used to finance the construction of a SunEdison-owned 100MWp solar power plant in the Atacama Desert, Chile.

Trowers & Hamlins acts on major independent water project in Oman

25 Sep 2013

Trowers & Hamlins has advised the sponsor group comprising Sumitomo Corporation (Japan), Malakoff Corporation Berhad (Malaysia) and Cadagua SA (Spain) on the financial close of Oman's largest independent water project (IWP).  The IWP, valued at circa US$300 million, reached financial close on 18 September 2013.

The project will be funded by Japanese financial institutions, led by the Japan Bank for International Cooperation, through a build-own-operate project finance structure. 

Shearman & Sterling Advises Ecopetrol on $2.5 Billion Offering

24 Sep 2013

Shearman & Sterling acted as counsel to Ecopetrol S.A. in connection with a public offering of $350 million aggregate principal amount of its 4.250% Notes due 2018, $1.3 billion aggregate principal amount of its 5.875% Notes due 2023 and $850 million aggregate principal amount of its 7.375% Notes due 2043. Merrill Lynch, Pierce, Fenner & Smith Incorporated and Morgan Stanley & Co. LLC acted as underwriters. This transaction represented the first time in four years that Ecopetrol had accessed the international capital markets.