Hogan Lovells has advised independent oil and gas exploration company, Mitra Energy Limited (“Mitra”), on its farmout of a 75% working interest in Service Contract No. 56 (“SC-56”) located in the Sulu Sea in the Philippines to Total E&P Philippines B.V. (“Total”).
SC-56 covers approximately 4,300km2 in water depths ranging from 200 metres to 3,000 metres, and contains three gas discoveries.
Mitra will operate a seismic acquisition programme, after which the operatorship will be transferred to Total for drilling operations.
Brad Roach, head of Hogan Lovells’ oil and gas practice in Singapore, together with Simonette Santos, advised on the transaction, and worked alongside Chee Ling Leung, General Counsel and Andy Butler, Business Development Manager, of Mitra.
Brad Roach said: “We are very pleased to have assisted Mitra Energy in achieving a successful outcome for the farmout of this acreage to Total, and wish them success in the further exploration and development of the block. It was a pleasure to work with Leung Chee Ling and Andy Butler, and the negotiations with Total were extremely amicable and professional.”
Chee Ling Leung, Mitraʼs General Counsel said: “Brad is an excellent lawyer and we look forward to working with him again on other transactions”.
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