Pinsent Masons Advises Ithaca Energy On Transformational North Sea Merger With Eni’s UK Upstream Business
03 May 2024 | 12:48 pm |
Multinational law firm Pinsent Masons is advising leading UK independent exploration & production company Ithaca Energy plc on its transformational combination with Eni S.p.A.’s UK upstream oil and gas assets, establishing Ithaca Energy as the second largest independent operator in the UKCS by 2024 production.
The deal is expected to create a strategic platform for long-term growth in the UK North Sea combining Ithaca Energy’s portfolio of development projects and efficient operating model with enhanced production from the Eni UK Business and Eni’s world-class technical expertise.
The Pinsent Masons team advising on the transaction was led by global head of O&G Rosalie Chadwick and partners Jonathan Woolf and Julian Stanier.
Commenting on the deal Rosalie Chadwick said: “This transaction continues our long history of advising Ithaca Energy on key corporate milestones on its journey to becoming one of the largest operators in the UKCS. We are delighted to have continued to assist Ithaca Energy on this latest transformational deal.”
The firm has an established relationship with Ithaca Energy spanning over 16 years which includes advising on Ithaca Energy’s £2.5bn IPO and US$1.5bn acquisition of Siccar Point in 2022.
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