Bracewell LLP represented Impact Oil & Gas Ltd on the farm-out to CNOOC UK Limited (CNOOC) of a 65 percent participating interest in the AGC Profond block, located in the offshore joint development zone between Senegal and Guinea-Bissau.
The transaction closed on 23 March 2017. CNOOC, the largest producer of offshore crude oil and natural gas in China, is now the operator with 65 percent interest, while Impact holds 20 percent and Entreprise AGC SA, an entity owned by Senegal and Guinea-Bissau, holds 15 percent.
Bracewell lawyers involved in the transaction included Ben James (Picture) and Adam T. Waszkiewicz.
Law Firms: Bracewell & Giuliani;
Clients: Impact Oil & Gas Ltd;