From inception, G. Elias & Co. have been active in a wide range of work relating to the oil-and-gas sector. We have advised on several agreements for acreage acquisitions involving multi-party participation in the development of oil-and-gas acreage (“farm-in”, joint venture, participation, “carried interest”, “production sharing” and “joint operating” agreements), for solo developers to acquire such acreage and on the financings of such acquisitions. We have also advised on the acquisition of project sites, on contracts between oil sector actors and communities resident on or near project sites and on litigation over project sites, and advised on agreements between oil producers and their “host communities.
We have also advised on significant project financing and corporate oil and gas transactions such as the joint venture forward sale financings, merger of upstream oil and gas companies, a major merger of oilfield service companies and a spin-off of a service company’s non-core assets and on bids for acreage offered for sale by international oil companies.
Some of our key Oil & Gas experiences are as follows:
- Acted as Nigerian lawyers to the international and local lenders led in respect of the US$1.1billion Nigerian National Petroleum Corporation-ExxonMobil Nigeria Natural Gas Liquid joint venture on the Phase II financing transaction.
- Acted as Nigerian lawyers to the international and local lenders led by Standard Charted Bank UK Ltd. in respect of the US$1.2billion forward sale of crude oil financing involving the joint venture of Nigerian National Petroleum Corporation and Chevron Nigeria Ltd.
- Acted as lawyers to the lenders on the US$1.5billion Nigerian National Petroleum Corporation’s 2015 Pre-Export Financing of its acreage operations.
- Acted as lawyers to the reverse acquirer on the US$200million merger of Africa Oilfield Services Ltd. and Orwell Oil and Gas Ltd. to create the largest Nigerian-controlled oilfield service company.
- Acted as Nigerian lawyers to the international underwriters and book runners on a US$400million Eurobond offering listed on the Irish exchange for Seven Energy International Limited.
- Advised lenders and offtakers in respect of the financing and repayment arrangement for Lekoil Oil & Gas Investments Ltd.’s operations in its marginal field.
- Acted as lawyers to the lenders on the US$1.5billion Nigerian National Petroleum Corporation’s 2012 Pre-Export Financing of its acreage operations.
- Acted as lawyers to the lenders in respect of the US$160million financing of the acquisition of an acreage by Cedar Oil and Gas Exploration and Production Limited.
- Acted on the litigation on withholding tax involving the FIRS, the Shell Petroleum Development Corporation and a group of companies including local and foreign oilfield service companies before the Body of Appeal Commissioners, the High Court, the Court of Appeal and the Supreme Court.
- Acted on the amicable settlement of dispute among winning bidders for interests in a Shell Petroleum Development Corporation operated Oil Mining Lease.
For more information on G. Elias’ Oil & Gas expertise, please contact Gbolahan Elias and Oluwatoyin Nathaniel.