Pinsent Masons advises Total on its US$635m sale of multiple oilfields in the North Sea

11 Jul 2019 | 03:35 pm | 1 min. read

International law firm Pinsent Masons has advised French oil giant Total on its sale of several UK non-core assets to Petrogas NEO UK Ltd, the exploration and production arm of the Oman-based conglomerate MB Holding. Petrogas has partnered with Norway-based private equity investor HitecVision.

The transaction involves the disposal of Total's interest in ten assets located in the Eastern North Sea which were formerly owned by Maersk Oil.

Pinsent Masons advised Total on all aspects of the deal, which overall amounts to US$635 million with an effective date of January 1, 2019. The transaction remains subject to approval from the relevant authorities and is expected to close in December 2019.

The Pinsent Masons team was led by Head of Corporate Finance Rosalie Chadwick, and was assisted by Heather Hutcheon (Corporate), Rachel Warner (Oil & Gas), Euan Smith and Claire Scott (Employment) and Giles Warrington (EU & Competition).

Rosalie Chadwick, lead partner on the deal said, "We are delighted to have successfully supported Total on another strategically important UKCS deal. 2019 has already been a busy year for M&A activity in the UKCS and having also acted earlier in the year for Ithaca on its $2bn acquisition of Chevron North Sea Limited we are pleased to have advised on two of the key deals in the sector this year”.

Meet the team

Show me all
Rachel Warner

Legal Director

Rachel is a legal director who specialises in upstream oil and gas projects and general commercial contracts for the industry and has particular experience in the acquisition, disposal and operation of offshore assets.

Warner Rachel
Claire Scott

Legal Director

Claire is a legal director who advises clients on all aspects of employment law. She is a key member of the employment energy sector group and has extensive experience advising international clients in the oil and gas, shipping and aviation industries.

Scott Claire

Latest press releases

Show me all press releases

Pinsent Masons launches Equality Law practice

Multinational law firm Pinsent Masons has announced a unique equality law specialism that supports clients in managing the cultural and legal aspects of discrimination and inclusion issues.

Pinsent Masons hires technology, science and industry partner in Amsterdam

Multinational law firm Pinsent Masons has hired its second partner in Amsterdam recruiting corporate partner and civil-law notary Alexander Spoor as it boosts its technology, science and industry (TSI) capabilities in The Netherlands.

Pinsent Masons named as a Top 50 Employer for Women by The Times

Multinational law firm Pinsent Masons has been recognised for its commitment to achieving gender equality, being named in The Times Top 50 Employers for Women report for the fifth consecutive year.

People who viewed this press release also viewed

Show me all press releases

Pinsent Masons advises GNA Biosolutions GmbH on Covid-19 rapid PCR test

Multinational law firm Pinsent Masons advised GNA Biosolutions GmbH on IP and commercial aspects of its rapid PCR Covid-19 test.

Pinsent Masons advises ALK Capital on its acquisition of Burnley FC

Multinational law firm Pinsent Masons has advised ALK Capital on the acquisition of Burnley Football Club.

Pinsent Masons advises Unbound on financing in fitness start-up VAHA

Pinsent Masons has advised Unbound on its investment in etone Motion Analysis GmbH (VAHA), a manufacturer of smart digital mirrors.

For all media enquiries, including arranging an interview with one of our spokespeople, please contact the press office on

+44 (0)20 7418 8199 or 

Location contacts