We Know Energy Entirely Energy.

Transcription

1 LONDON ENERGY TEAM

2 We Know Energy Entirely Energy. Bracewell LLP is a leading law and government relations firm serving the oil and gas, power, financial services, technology and public finance industries throughout the world. Our industry focus enables us to maintain cutting-edge experience and in-depth knowledge of the commercial, legal and regulatory challenges faced by our clients so that we can provide the most effective legal solutions to facilitate transactions and resolve disputes. The London office of Bracewell is exclusively dedicated to the energy sector. Our team is comprised of leading energy lawyers and we have developed an offering which we believe is unique and beneficial to our clients. We focus on mergers and acquisitions, joint ventures, finance, project development and construction. Our team has acted on a number of the largest energy projects and M&A transactions across the globe.

3 Our London-based practice. Helping drive the world s energy industry. Bracewell s insight and experience across the entire energy sector means we can create meaningful solutions to answer complex legal challenges efficiently and accurately. We have experience acting for super majors, large independents, mid-caps, start-ups, governments, trading houses, equity investors and banks. This breadth of client base means that we understand the commercial drivers of our clients, their partners and counterparties, as well as the key issues and trends facing the industry. Bracewell is a global leader in the oil and gas industry. We advise our clients around the world on the development, acquisition and disposal and financing of their oil and gas assets across the value chain. The Bracewell London team has a unique depth of experience of the reserve-based lending (RBL) financing market and our team has advised on RBL financings spanning a period of some 30 years. Our London team also features internationally recognised and experienced lawyers who are focused on all aspects of the power industry, from early stage project development, through to project financing, acquisitions and disposals, regulation and market reform. We are delighted that our efforts have been recognised by a number of leading awards, including: 2017 Firm (Specialism) of the Year: Projects, Energy and Natural Resources Oil and Gas, The Legal 500 U.K Legal Services Provider of the Year, Petroleum Economist Awards 2014 Energy and Natural Resources Team of the Year, The African Legal Awards

4 Oil and Gas Transactions and Projects Our oil and gas team advises across the oil and gas value chain, from wellhead to market. We work with our clients on upstream exploration and production, financings, trading and commercialisation, transportation and storage, LNG liquefaction and regasification, marketing, and petrochemical and refining projects. Our recent notable matters include advising on the following: Apache Corporation $800 million sale of its entire Argentina business to YPF Transfer of its operated interest in the SAGE and Beryl pipeline system in the North Sea and associated gas processing terminal to Ancala s Sale of its interest in the Scott and Telford oil fields in the North Sea to Edison Eni S.p.A. Sale of interests in Egypt s super-giant Zohr field to Rosneft for $1.125 billion and BP for $375 million Ophir Energy plc $2 billion floating LNG project offshore Equatorial Guinea, including host government arrangements, LNG sales agreements, chartering agreements, joint venture arrangements, project financing, and construction Genel Energy plc Development and commercialisation of the Miran and Bina Bawi gas fields in Kurdistan Etablissements Maurel & Prom SA Gas commercialisation projects at Mnazi Bay and Mkuranga in Tanzania Impact Oil & Gas Ltd Takeover of Black Star Petroleum Acquisition of assets in Namibia and Gabon Acquisition of upstream asset in Senegal/Guinea Bissau AGC and subsequent farm-down to Nexen ConocoPhilips Company Sale of significant midstream pipeline infrastructure EOG Resources, Inc. Expansion and development of its upstream oil and gas business in Trinidad, including the acquisition of assets from BP Rhino Resources, Ltd Continued expansion of its pan-african exploration portfolio, including PSC negotiations in Senegal/Guinea Bissau AGC, Namibia and Comoros Islands Sonatrach Gas Marketing UK Ltd Phases 1 and 2 of the Isle of Grain LNG terminal JKX Oil & Gas plc Upstream asset swap transaction in Hungary with HHE VTTI Energy s LP Acting for the Conflicts Committee in relation to MLP drop down transactions for an aggregate of $170 million and the take private buyout of public unitholders San Leon Energy plc AIM placing and shale play transaction in Poland

5 Energy Finance We regularly advise on the full range of reserve-based financing products from single field project financings through to multi-field borrowing base facilities. We have also been involved, and in many cases instrumental, in the development of more unconventional debt products for the upstream sector including contingent resource backed facilities such as pre-development sanction facilities. Outside of the pure reserve-based area, we advise on the full range of other debt products seen in the oil and gas industry including pre-export financings, prepayment financings, acquisition financings and corporate debt facilities for E&P companies. Our recent notable matters include advising on the following: Delek Drilling L.P. and Avner Oil Exploration L.P. $1.75 billion financing for the development of the Leviathan gas field, offshore Israel Sterling Resources (UK) Ltd Financial restructuring by way of a debt for equity swap Petroceltic International plc Financial restructuring with its lenders Caracal Energy Inc. $250 million reserve-based secured facility for the development of its Chad assets (the first reserve-based lending in Chad) (Awarded Middle East and Africa Deal of the Year 2014 by Trade Finance Magazine) ING Bank N.V., and a syndicate of five lenders $340 million borrowing base facility for Oranje-Nassau Energie, based on oil and gas assets in the U.K., Netherlands and Gabon Seplat Petroleum Development Company plc $1.7 billion term and revolving facilities comprising of a reserve-based financing with Nigerian banks and a corporate facility with international banks, each secured against Nigerian oil and gas assets Petrogas E&P LLC $150 million secured borrowing base facility arranged by ING Bank relating to Petrogas acquisition of assets located in the Netherlands DBN Bank, ING Bank N.V. and Natixis $600 million borrowing base facility made available to Siccar Point Energy to fund the acquisition of OMV s North Sea oil and gas business BNP Paribas, ING Bank N.V. and DNB Bank $150 million borrowing base facility as part of the merger of Core Energy, Point Resources and Spike Exploration Etablissements Maurel & Prom SA $650 million revolving credit facility arranged by BNP Paribas, Crédit Agricole Corporate and Investment Bank, Natixis and Standard Chartered Bank HSBC Bank plc $100 million secured revolving credit facility for KrisEnergy, an independent upstream E&P company with a focus on Southeast Asia Bank of Nova Scotia $175 million reserve-based lending facility provided to Amerisur Resources by The Bank of Nova Scotia, HSBC Bank USA, National Association and Société Générale Société Générale, Crédit Agricole S.A. and Commonwealth Bank of Australia $650 million borrowing base facility to Cobalt Energy

6 Power Our London team has experience in project development and finance, as well as mergers and acquisitions, of key power projects in Europe, Africa and the Middle East. Many of these projects and transactions received recognition not only within their geographical jurisdiction, but also internationally. Our lawyers have advised clients across power projects, including conventional power projects and the range of renewable technologies including solar, wind, biomass, hydroelectric generating facilities as well as carbon capture and storage. Our recent credentials include advising on the following projects: Vestas Wind Systems A/S 300 MW Lake Turkana wind project, one of the largest onshore wind farm developments in Africa and the largest single-private investment in Kenya (circa 600 million); awarded African Renewable Deal of the Year 2014 by Thomson Reuters Project Finance International and African Renewables Deal of the Year 2014 by IJGlobal Europe and Africa Awards Private equity house 450 MW Azura Edo power project in Nigeria, the first of a new wave of greenfield power projects being developed in Nigeria Developers of U.A.E. renewable projects Various renewable projects in the U.A.E., including the 350 MW Sweihan Solar PV Project in Abu Dhabi, 100 MW DEWA Phase II and 800 MW DEWA Solar Phase III IPPs in Dubai Developers of solar facilities in Jordan Solar PV facilities as part of Round 1 and Round 2 of Jordan s renewables programme (the Direct Proposal Submission Process), the largest collection of privately owned solar PV projects ever to be realised in the MENA region. One of the Round 1 solar projects is part of the Seven Sisters projects which was awarded two awards by IJGlobal Middle East: Middle East Renewables Deal of the Year 2014 and Middle East Overall Deal of the Year Another of the Round 1 solar projects was the largest of the solar projects in this round being the 52.5 MW Shams Ma an project Sponsors, contractors and lenders South African Renewable Energy Independent Power Producer Procurement Programme Developers of Egyptian renewable projects Solar and wind projects as part of Round 1 and Round 2 of Egypt s renewable energy Feed-In Tariff (FIT) programme. Round 2 is anticipated to provide for an additional 1,845 MW of capacity between the various solar and wind projects BTMU, JBIC, NEXI and SMBC 150 MW wind farm in Taza, Morocco, which will form part of the 1,000 MW wind programme launched by the Moroccan Office National de l Electricité

7

8 The London-based partner team Olivia Caddy T +44.(0) olivia.caddy@bracewell.com Jason Fox Managing, London T +44.(0) jason.fox@bracewell.com Ben James T +44.(0) ben.james@bracewell.com Tracy London T +44.(0) tracy.london@bracewell.com Julian Nichol, London T +44.(0) julian.nichol@bracewell.com Darren Spalding T +44.(0) darren.spalding@bracewell.com Martin Stewart-Smith T +44.(0) martin.stewart-smith@bracewell.com Alastair Young T +44.(0) alastair.young@bracewell.com TEXAS NEW YORK WASHINGTON DC CONNECTICUT SEATTLE DUBAI LONDON bracewell.com