Pinsent Masons advises Eni on its acquisition of BP’s business in Algeria

The acquisition includes BP’s two concessions ‘In Amenas’ and ‘In Salah’ and adds great strategic value to Eni’s presence in the region, as well as contributing to Europe’s gas needs.

Pinsent Masons advised Eni on all aspects of the transaction including due diligence, transactional negotiations, regulatory support, tax and employment law. The Pinsent Masons multidisciplinary team led by partners Bruce McLeod, Akshai Fofaria, Eloise Walker, Claire Scott and Alexander Spoor included Jonathan Kirkwood, Jamie Robson, Frits Burg and David Trethowan.

Akshai Fofaria said, “This is a significant deal for Eni who have been operating in Algeria for over thirty years. Not only does it help strengthen Eni’s presence in the region, it has great strategic value to further contribute to Europe’s gas needs and energy independence as the continent continues to face supply and pricing problems.”

Pinsent Masons has a strong track record of advising significant M&A deals in the energy sector. Recent transactions include advising Eni on the creation of Azule Energy in Angola and advising Ithaca Energy on its US$1.5bn acquisition of Siccar Point Energy.