Herbert Smith Freehills has advised ASX-listed oil and gas producer, Santos Limited (Santos), on its acquisition of a 50% interest in the Northwest Natuna Production Sharing Contract (PSC) from AWE Limited, for up to US$188 million.
Under the terms of the farm-in, Santos will also assume operatorship of the undeveloped Ande Ande Lumut oil field which has been independently assessed to contain an estimated gross proved and probable (2P) reserves of approximately 100 million barrels of oil.
The firm’s team was led by Singapore partner Richard Nelson, with support from Australia partner, Baden Furphy. Senior associates Nick Baker (Melbourne) and Cheryl Neo (Singapore) also advised on this transaction.
Richard Nelson commented: “Our advisory role for Santos in this important transaction reinforces the strength of our South East Asian energy capabilities and synergies gained from our Singapore and Australia based energy teams.”
Baker and McKenzie advised AWE Limited.
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