Latham & Watkins with TotalEnergies on its agreement with CEPSA  

TotalEnergies has entered into an agreement with CEPSA, whereby it will acquire CEPSA’s upstream assets in the United Arab Emirates, effective as of January 1, 2023. Latham & Watkins provided legal advice to TotalEnergies in this transaction.  

The assets to be acquired include a 20% participating interest in the Satah Al Razboot, Umm Lulu, Bin Nasher and Al Bateel offshore concession, which includes two major offshore fields. ADNOC is the majority stakeholder in this concession, holding a 60% interest, alongside OMV (20%).  

TotalEnergies will also acquire a 12.88% indirect interest in the Mubarraz concession held by Abu Dhabi Oil Company Ltd (ADOC), through the acquisition of 20% of Cosmo Abu Dhabi Energy Exploration & Production Co. Ltd (CEPAD), which holds a 64.4% interest in ADOC. The Mubarraz concession consists of four producing offshore fields.  

The completion of these transactions is subject to customary conditions precedent and final approvals. By acquiring these assets, TotalEnergies strengthens its long-standing presence in Abu Dhabi. 

The multi-jurisdictional Latham team was led by London corporate partner Simon Tysoe, with associates Becky Wee and Conor Nolan. Additional advice was provided by London tax partner Sean Finn with associate Aoife McCabe; Paris antitrust partner Adrien Giraud; Brussels associate Romain Perr ois; Madrid corporate partners Ignacio Pallares and Maria Jose Descalzo with associate Carmen Esteban; Dubai corporate partner Christopher Lester (pictured); and Tokyo corporate partner Hiroki Kobayashi with associate Takatomo Terasaki

Latham & Watkins with TotalEnergies on its agreement with CEPSA

Launched in 2022 by LC Publishing Group S.p.A., it is the first digital portal addressed to the Middle East North Africa market.

In terms of contents, the website focuses on both law firms and in-house legal departments, covering the latest news and rumors on deals and operations (and the related advisors) as well as on lateral hires, moves and new appointmens and providing insights, analytical data and opinions on the professions’ main trends and topics (AI, innovation, etc.).

For further information, please visit the Group’s website

Legalcommunity MENA
LC Publishing Group S.p.A. – Via Tolstoi 10 – 20146 Milano – Tel. 0236727659 – C.F./P.IVA 07619210961
REA 1971432 Registro delle Imprese di Milano – Cap. Soc. Euro 50.000,00 i.v.

Copyright 2023 © All rights Reserved. Design by Origami Creative Studio


Share on linkedin
Share on twitter
Share on facebook
Share on whatsapp
Share on email
Share on telegram