ACAS-Law is delighted to announce that it acted as Nigerian legal counsel to the consortium of Africa Oil, Delonex and Vitol in the recently concluded share purchase agreement for the acquisition of a 50% ownership interest in Petrobras Oil and Gas B.V (“POGBV”) for US$1.407 billion. POGBV is an indirect holder of an 8% interest in OML 127 and 16% interest in OML 130. OML 127 contains the producing Agbami field, while OML 130 contains the prolific Egina field.
The ACAS-Law deal team on the transaction was led by its Managing Partner, Felicia Kemi Segun, who was assisted by Donna Shodipo (Partner), Chinedu Kema (Senior Counsel) and other counsel in the Energy and Project Finance Group.
The expertise of the Energy and Project Finance Group has placed ACAS-Law as a leading energy law firm in Nigeria. From concession licensing and acquisitions, midstream and downstream transactions, and oil and gas services, to power, mining and related financing, the expertise of the Energy and Project Finance Group covers the entire energy spectrum. The specialization of the Group includes transaction structuring, conducting legal due diligence exercises, negotiating and drafting of transaction/project documents, loan and security documentation, local content compliance, tax, advising on legislative and regulatory matters and on corporate/commercial matters.
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Adepetun Caxton-Martins Agbor & Segun
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