MBH Supports ADNOC Group in Major Joint Venture with bp
Matouk Bassiouny & Hennawy has played the role of local counsel to ADNOC Group in a landmark joint venture agreement with global energy giant BP. This partnership will drive the development of key gas assets in Egypt, marking a significant step forward for the country’s energy sector.
Under the terms of the agreement, bp will hold a 51% stake in the joint venture, while ADNOC will own the remaining 49%. The venture will benefit from bp’s existing interests in three development concessions and three exploration concessions within Egypt, while ADNOC will contribute a corresponding cash investment for potential expansion opportunities.
MBH played a pivotal role in structuring and negotiating this complex transaction, drawing upon its extensive experience in cross-border joint ventures and energy deals. The firm’s team, led by Omar Bassiouny (Founding Partner and Group Head of Corporate and M&A) and Mahmoud Bassiouny (Regional Managing Partner and Group Head of Finance & Projects), provided comprehensive legal guidance throughout the process. The team included:
- Omar Khattab (Senior Associate)
- Abdallah Soliman (Senior Associate)
- Saifallah Kadry (Senior Associate)
- Zahra Ashraf (Associate)
- Clara Kolta Abdelmessih (Associate)
- Habiba Tarek El naggar (Associate)
Global law firm Norton Rose Fulbright has successfully advised bp. The multi-disciplinary team at Norton Rose Fulbright was led by London-based Partner Hussain Kubba, alongside corporate Partners Andrew Davies and Nicolas Sirtoli. For further information on the involved team members, click here.
