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”.
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.
Rachel is a senior associate 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.
International law firm Pinsent Masons has joined Climate Bonds Initiative's Partners Programme, an international network mobilising debt markets to tackle climate change and finance green solutions.
International professional services firm Pinsent Masons has today announced the launch of the "Spark Board" to bring a new perspective to strategic decision-making at the firm.
International law firm Pinsent Masons has launched a virtual internship enabling students to gain valuable experience of working as a lawyer within its business.
International law firm Pinsent Masons has advised CH&CO Catering Group on the £85m acquisition of the UK and Irish catering and hospitality business of Mitie Group Plc.
International law firm, Pinsent Masons, has advised Primary Capital Partners on its management buy-out of British engineering company Foster & Freeman.
International law firm Pinsent Masons has advised Međunarodna Zračna Luka Zagreb (MZLZ) on the c.€200 million refinance of Croatia's Zagreb Airport.
For all media enquiries, including arranging an interview with one of our spokespeople, please contact the press office on