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
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
Rachel Warner

Senior Associate

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.

Warner Rachel

Latest press releases

Show me all press releases

Advising BP on first investment in AI in China

International law firm Pinsent Masons has advised global energy company BP on its investment in energy management tech specialist R&B

Pinsent Masons bolsters its Competition, EU & Trade Group with appointment of Hans Jürgen Meyer-Lindemann in Düsseldorf

Pinsent Masons continues to expand its Competition, EU & Trade Group, with the appointment of competition law specialist, Prof. Dr. Hans Jürgen Meyer-Lindemann, as a partner in the Düsseldorf office.

Pinsent Masons advises HZI on its first Energy from Waste Plant in Australia

International law firm Pinsent Masons has advised HZI on the development of the A$511 million East Rockingham Resource Recovery Facility in Western Australia

People who viewed this press release also viewed

Show me all press releases

Pinsent Masons advises Redington on deal from Phoenix

International law firm, Pinsent Masons, has successfully advised the founders and management of Redington, the independent institutional investment consultant, on an investment deal from Phoenix Equity Partners, a leading UK mid-market private equity firm.

Pinsent Masons advises Zurich on the sale of its UK Retail Wealth business

International law firm Pinsent Masons has advised Zurich, the global insurance provider, on the sale of its UK Retail Wealth business to Embark Group.

Pinsent Masons advises SR Smith on its acquisition of Sunbather

International law firm Pinsent Masons has advised S.R. Smith on the acquisition of Sunbather.

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