Oil and Gas
Our strength lies in comprehending the particulars of our client’s needs and working in specialist international legal teams to fulfil our client’s requirements. We understand that in a world acclimatising to global financial crises and unpredictable oil prices, our clients are looking to reposition themselves at a time when financing, credit and currency risks remain valid concerns.
LXL has extensive experience in the oil sector acting for State-owned companies, major international and smaller independent oil companies whether explorers, developers, or producers.
Our in-depth industry knowledge and commercial expertise allow us to add value to our clients’ operations covering all aspects of the Oil, Gas, and LNG supply chain. As most oil and gas assets are not based in the UK, our work has taken us worldwide advising on all on a range of work including financing and refinancing (debt and equity), licensing, concessions, production sharing or service contracts, drilling services, mergers and acquisitions and joint ventures, farm-ins and farm-outs, joint ventures, midstream contracts, and petroleum sales including negotiating and re-negotiating pricing provisions in long term contracts. We also have specialised experience with respect to disputes, sanctions, and compliance in the UK and internationally.
Our experience includes acting for and advising:
- Sapura Energy on its agreement to establish a joint venture with Austrian state-controlled company, OMV (value more than US$1.6 billion);
- CEFC Shanghai International Group Limited on its acquisition of a 14.2% shareholding in Rosneft Oil Company – Russia’s largest oil producer. (US$9.1 billion);
- on gas SPAs with Middle Eastern countries, namely Iraq and Iran, including related pipeline aspects and Inter-Government Agreement (IGA) and Host Government Agreement (HGA);
- the largest private Chinese company on strategic cooperation and establishing joint ventures in Russia with a Russian state-owned company (value more than US$5 billion);
- Asian state-owned company on its acquisition of onshore and offshore assets in Mauritania having an estimated value of US$420 million;
- European State oil companies on the acquisition of the North Sea and North African assets and advising them on their day-to-day exploration and production activities;
- on a number of SPAs for petroleum assets including the acquisition of downstream assets in Tanzania and Uganda (financed by OPIC), assets in Kenya, Tanzania and Uganda, interests in the Sudan and assets in Indonesia;
- a State-owned oil company on matters concerning English law in respect of a US$850 million acquisition of offshore oil assets in Brazil;
- Asian state-owned company on the development, construction, shareholder participation, financing and operation of the Dragon Milford Haven LNG Terminal and advised on the long-term sale of gas throughput (publicly estimated contract value £4 billion);
- Asian state-owned company on the €1.6 billion acquisition of a major gas interest in Egypt, the sale of export LNG and domestic gas and financing of the construction of an LNG liquefaction plant;
- an Italian oil and gas company on acquiring a US$1.4 billion concession agreement to explore and develop Egypt’s Abu Qir offshore oil and gas fields, further US$1.7 billion invested to develop the field’s reserves; and
- Asian state-owned company in the sale of 3.6 million tonnes per annum of LNG, including renegotiating two long-term LNG contracts to maximise the parties’ arbitrage opportunities arising out of the provision of new diversion rights.
Please go to Transactions and Cases to learn more about our experience in Oil and Gas.
- LXL ranked for oil and gas having “in-depth knowledge and a focus on the sector not apparent in many other firms.” (Legal 500 – 2014)
- Alan Jones has “unsurpassed client care skills, and knows oil and gas inside out” (Legal 500 – 2014)
- Global Awards Winner for M&A in Oil and Gas (Corporate Livewire) for 2014-2015
- 2014 Acquisition Awards (Oil and Gas sector focused legal team of the year)
- Ranked for Oil and Gas (Chambers and Partners 2015-2016)