The recent economic downturn in the oil and gas industry has presented significant and varied issues to oil and gas companies and their businesses. Through our international expertise and familiarity with the issues and trends in the sector, our team can bring you practical solutions whether you are considering a complex project, a one off transaction, adhering to regulatory demands or a contentious dispute.
We have supported our clients through the strain of recent times, helping them to manage risk and continue to support them in the ongoing recovery of their business.
Please get in contact with our oil and gas team who are here to help you stay on top of current issues and explore new opportunities for your business.
We are advising Basra International Oil and Gas Hub Ltd (BIOGH) on the creation of a specialised oil and gas free zone at Khor Al-Zubair, Basra. The specialised free zone, totalling 11 million square metres, will provide a mixed-used site for manufacturing, storage and servicing of the expanding requirements of Iraq’s oil and gas sector. This is one of the most significant investment contracts entered into by the Iraqi Free Zones and will employ around 10,000 Iraqi nationals bringing substantial economic benefits for the regional economy.
We advised Hellenic Petroleum, Greece’s largest oil and gas company, on the successful auction of part of their interest in the West Obayed oil and gas concession in Egypt to Vegas Oil and Gas.
We advised Harvest Natural Resources on its acquisition of a 50% working interest in the Dussafu marine offshore block in Gabon.
We advised Hellenic Petroleum, Greece’s largest oil and gas company, on the US$500m purchase of over 1,200 gas stations and 170,000 cubic metres of oil storage capacity in Greece from BP Plc.
We advised Great Eastern Energy Corporation (GEEC), an Indian company focused on the monetisation of natural gas from coal seams, on the introduction of its Global Depositary Receipts (GDRs) to the London Stock Exchange’s standard list and to admission to trading on the Main Market. On IPO, GEEC had a market capitalisation of £570m.
BLP advised the founders of Navigat Group Pte Ltd, a distributor of gas-fuel industrial turbines and a developer of gas-fuel power plant projects in South East Asia, in the sale of certain founders’ shares.
We advised Panoro Energy, a Norwegian-based business, on the sale of its interests in three offshore oil and gas exploration concessions in Brazil. Panoro and its Canadian co-venturer Brasoil farmed out their interests to Vanco Energy, a Houston-based, Russian-owned company. The transaction was delivered by BLP’s projects and finance experts in conjunction with preferred firms in three continents.
Members of our team advised Taneko and Tatneft on the construction and financing of a large refinery and petrochemical complex in Nizhnekamsk, Tatarstan.
On a project requiring support from 13 practice areas, BLP helped a client to secure preferred bidder status, gain requisite clearances and ultimately complete the sale and purchase of a major downstream logistics and marketing operation. The project saw BLP support a consortium comprising Investec Bank, Snax 24 (Heron Group) and Grovepoint Capital to acquire around 810 petrol stations, fuel distribution and haulage operations, a partial interest in a pipeline, a terminal at Nottingham and other operations from Total.
BLP acted for Macquarie Bank on the US$135m financing of the acquisition by AIM listed IGas Energy plc of Star Energy Group Limited from Petronas International. The acquisition consolidates IGas’s existing coal bed methane assets with Star’s substantial onshore UK oil and gas business and makes IGas a significant player in the onshore hydrocarbon industry in the UK. In addition to the debt package, the overall transaction included warrants and an AIM placing.