King & Spalding with KUFPEC on 20% interest in Shell Brasil’s oil & gas assets
King & Spalding represented Kuwait Foreign Petroleum Exploration Company, k.s.c.c. (KUFPEC) in connection with its agreement to acquire a 20% interest in the Orca and Sul De Orca oil and gas assets from Shell Brasil Petróleo, a wholly-owned subsidiary of Shell.
The development plan for the asset includes the installation of a floating production storage and offloading (FPSO) vessel with capacity of up to 120,000 barrels of oil per day.
The client
A wholly owned subsidiary of Kuwait Petroleum Corporation, KUFPEC is an upstream company specialising in exploration, development and production of crude oil and natural gas outside the State of Kuwait.
The King & Spalding team
Abu Dhabi-based partner Matt Hartsuyker (pictured) led the King & Spalding team advising on the matter, working alongside Simon Fraser, Chris Travis, Caio Gabra and Saiesh Kamath from the Abu Dhabi office as well as Ben Williams from the Dubai office. Moreover, Salomé Ugarte and Raphael Fleischer worked on the transaction from the Brussels office, while Michael Langan participated from the firm’s London base.
