Experience in the Oil and Gas Industry
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Experience in the Oil and Gas Industry ASIA-PACIFIC AND GLOBAL EXPERTISE “Their ability to constantly deliver the highest quality product in extremely challenging time-frames and under very strong pressure is remarkable.” IFLR, 2016 Oil and Gas &C has significant and varied experience advising clients “Oil & Gas Legal Adviser of the Year” Sin the oil and gas sector. Our depth of understanding of INFRASTRUCTURE JOURNAL, 2011 the oil and gas industry means our lawyers’ advice is always oriented towards achieving the commercial objectives of S&C’s standing in the industry and the Asia-Pacific region our clients active in Asia-Pacific and worldwide. We provide is reflected in the number of major companies it has represented, both directly and in consortia, including: tailored solutions informed by market knowledge. Our multi- AEC (Alberta Energy) INPEX disciplinary approach ensures that clients benefit from our American Energy Nigeria LNG Partners industry experience in each of our core practice areas. Nippon Oil BG Group Oleoducto Central BGP Inc. (OCENSA) OUR OIL AND GAS Upstream INDUSTRIES BHP Billiton Petroleum Oil Search Pipelines BP PDVSA LNG Cheniere Energy PetroChina Downstream Chevron Repsol CNOOC Royal Dutch Shell Mergers & Acquisitions and Joint Ventures OUR GLOBAL ConocoPhillips SeaDrill PRACTICE AREAS Project Development & Finance Devon Energy Sempra Energy Capital Markets, Leveraged Finance & Lending Enbridge Sinopec Private Equity EnCana Statoil Restructuring Eni Total Commodities, Futures & Derivatives ENN Energy Transportadora de Gas Tax del Sur ExxonMobil Sanctions and Trade Woodside Petroleum Hess Disputes and Investigations Hunt Oil 2 3 Asia-Pacific Region &C has maintained a leading Asia-Pacific practice for SELECTED PROJECT DEVELOPMENT & FINANCE HIGHLIGHTS nearly a century. Through high-quality legal service, Australia New Zealand S Australia Pacific LNG Project Maui Gas Field Moomba to Sydney Pipeline S&C has established a distinguished legal practice across the Papua New Guinea North West Shelf LNG Project Kutubu Petroleum Project and Pipeline region. Today, more than 50 S&C lawyers work in the Firm’s Azerbaijan/Georgia/Russia PNG LNG Project ACG/Azeri “Early Oil” phase of Full Field Development Russia Azerbaijan Caspian Sea, Azeri, Chirag and Deepwater Asia offices in Beijing, Hong Kong and Tokyo. The Firm also Caspian Pipeline Consortium Guneshli “Mega-Structure” Tyumen Offtake Matters has offices in Melbourne and Sydney. We are proud to have Azerbaijan/Georgia/Turkey Russia/Bulgaria/Southern and Central Europe Baku-Tbilisi-Ceyhan Pipeline (BTC) South Stream Pipeline served clients in the Asia-Pacific region in first-of-their-kind, Shah Deniz and SCP Pipeline Project Kazakhstan Turkmenistan Turkmenistan Upstream innovative transactions, many of which were singled out as Caspian Pipeline Consortium Tengizchevroil (TCO) Project landmark transactions for the region, including significant financings in the oil and gas sector. MARKET-LEADING PRACTICE 2 of 3 $32 billion “They handle complexity extremely Largest-ever oil and gas projects in Asia-Pacific involved S&C S&C is the leading adviser to sponsors in the well, are excellent at communicating, U.S. LAW FIRMS development and financing of oil and gas projects Sullivan & Cromwell – 11% 2nd ranking firm – 2.5% in the region, having advised on more than and are sensitive to different cultures 3rd ranking firm – 2% 4th ranking firm – 2% $32 billion of sector projects in Asia-Pacific. while still giving great advice.” 5th ranking firm – 1.3% In addition, the Firm regularly advises on strategic JV, M&A, restructuring and other matters across CHAMBERS ASIA, 2015 the region’s expanding oil and gas and natural resouces sector, and frequently acts for lenders Percentage represents market share of all international law firms advising sponsors/borrowers. and underwriters on complex projects. Source: Dealogic ProjectWare, November 22, 2016 4 5 Asia-Pacific Region MERGERS & ACQUISITIONS &C is a leading adviser on strategic M&A matters in SELECTED HIGHLIGHTS BGP Inc. (China), a subsidiary also represented ENN Energy Enterprises, Inc. (doing SAsia-Pacific, ranking as a top U.S. law firm for M&A in of the China National as borrower of a bridge facility business as Solar Monkey) Petroleum Corporation in its from Citigroup (withdrawn). (U.S.). (2011) acquisition of a controlling (2012) the region (Thomson). We advise on investment, joint venture Inpex Corporation (Japan) in interest in an oil and gas Consortium comprising Italian its $3.074 billion acquisition of exploration equipment joint and other M&A matters involving the acquisition or sale of operator SNAM (45%), GIC, Teikoku Oil Co., Ltd. (Japan). venture with ION Geophysical the Singaporean sovereign (2006) Corp (U.S.), a NYSE listed fund (35%) and EDF (France) companies engaged in the oil and gas sector in Asia-Pacific. company, and in its acquisition Goldman Sachs as financial (20% through its dedicated of approximately 19.9% of adviser to CNOOC (China) in assets fund), in the $3.3 billion ION’s listed common stock the $2.9 billion acquisition of Our experience includes a number of mandates involving the acquisition of Transport et and the arrangement for certain oil and gas exploration Infrastructures Gaz France recapitalization of its debt. assets from Tullow Oil. (2012) acquisition or disposition of oil and gas infrastructure assets, (TIGF) from Total SA (France). (2010) (2013) Goldman, Sachs & Co., BHP Billiton (Australia) in financial adviser to including pipelines. Constellation Energy its $15.1 billion acquisition SapuraCrest Petroleum Group, Inc. (U.S.) in the of Petrohawk Energy Berhad (Malaysia) in its $4 sale of the downstream Corporation (U.S.). (2011) billion merger with Kencana natural gas trading business Petroleum Berhad (Malaysia). China Investment of Constellation Energy (2012) Corporation (China) in a $150 Commodities Group, Inc. million investment in Triana (U.S.) to Macquarie Cook Oleoducto de Crudos Energy Investments, LLC Energy, LLC (Australia), a Pesados (Ecuador) in (U.S.) by a subsidiary of China subsidiary of Macquarie Bank the acquisition of a 30% Investment Corporation and Limited (Australia). (2009) interest by China Petroleum an affiliate of Morgan Stanley & Chemical Corporation ENN Energy China (U.S.). (2010) (Sinopec). (2006) Investment, a wholly-owned “They understand issues quite CIC Capital (China) as a subsidiary of ENN Energy PetroChina (China) in member of a consortium led Holdings Limited (Cayman its acquisition of a 51.89% by Brookfield in its $5.2 billion Islands), in its RMB4 indirect interest in CNPC quickly and work proactively to acquisition of a 90% stake in billion equity investment (Hong Kong) Limited. (2008) the natural gas pipeline unit of (representing a 1.12% equity Petrobras (Brazil). (2017) interest) in Sinopec Marketing find solutions.” (China). (2014) Consortium comprising ENN CHAMBERS ASIA, 2014 Energy Holdings Limited Hanwha Corporation (Korea) (China) and China Petroleum in its acquisition of common & Chemical Corporation stock representing 49% of (Sinopec) (China) in the $2.2 equity interests of Komodo billion voluntary general offer for China Gas Holdings Limited (Hong Kong). S&C 6 7 Asia-Pacific Region CAPITAL MARKETS, LEVERAGED FINANCE & LENDING &C has advised a range of companies active throughout Sthe oil and gas space in important capital raising transactions. We are also adept at structuring project bonds for developments in the oil and gas sector. SELECTED CLIENTS Alinta Energy Holdings Idemitsu Kosan Ampol Exploration Inpex Corporation APA Group Kunlun Energy Co. Ltd. Aurora Oil & Gas Limited Oil Search Australia Pacific LNG Origin Energy Limited BHP Billiton PetroChina Company* China Gas Holding Limited PTT Exploration and Production* CNOOC Limited* Santos* CNPC (Hong Kong) Ltd.* Tengizchevroil ENN Energy Woodside Petroleum *Asterisk indicates S&C represented the underwriter/agent or arranger. Otherise, we advised the issuer. 8 Oil and Gas UPSTREAM &C’s deep industry experience includes significant Supstream projects globally. This work, often in challenging emerging markets, extends from the structuring and negotiation of host country and commercial arrangements to the eventual financing. SELECTED PROJECTS ACG/Azerbaijan Dolphin Energy — Sincor Heavy Oil Project (1998) Tengizchevroil (TCO) Project The following LNG projects “Mega-Structure” (2004) Qatar/UAE (2009, 2012, 2015) S&C represented the sponsor (2004, 2016) were combined upstream The ACG Phase 1 Project was S&C worked as designated consortium which consisted of S&C advised Tengizchevroil LLP development and liquefaction the first stage of full-field lenders/underwriters counsel in affiliates of TotalFinaElf, PDVSA (TCO) in its 2016 $16 billion facilities. For more information development of the Azeri, Chirag the $4.14 billion Dolphin Energy and Statoil in this $4.6 billion project financing to fund the please see “Oil and Gas – LNG” and Deepwater Gunashli “mega- refinancing, a project heralded project to develop, produce, $42.5 billion expansion and beginning on page 10. structure” offshore Azerbaijan and as much for its complexity as update and export extra heavy modification of its upstream Australia Pacific LNG (2012) involves developing the Central its size. The project, the Middle crude oil from the Orinoco River operations at the Tengiz super Azeri portion of the Azeri field, East’s largest cross-border