SK E&S’ Acquisition of 25% Interests in Darwin LNG and Bayu-Undan

Allens has advised Santos Limited on the sale to SK E&S of a 25 per cent interest in the Darwin LNG facility and the Bayu-Undan gas field for US$390 million.

Santos announced it had agreed to sell a 25% interest in Darwin LNG and Bayu-Undan to SK E&S for US$390 million with effect from 1 October 2019 with customary adjustments on completion. Santos also receives the benefit of approximately US$120 million of cash flow relating to the interests from 1 January 2019 to 1 October 2019.

The completion of the sale was announced by Santos on 30 April 2021.

Credit Suisse (Australia) Limited and J.B. North & Co. acted as financial advisers to Santos and Allens is acting as legal adviser to Santos.

Santos Ltd. (South Australia Northern Territory Oil Search) is an Australian energy company, the country’s second-largest independent oil and gas producer.

SK E&S is a global clean energy & solution provider. 

The Allens team included 

Igor Bogdanich (Picture, lead Partner), Andrew Pascoe (Partner), Hannah Biggins (Managing Associate), Julian Barendse (Counsel), Alex Neerhut (Lawyer), Terence Zhou (Lawyer), Tayla Price (Law Graduate), and Anne Beresford (Senior Associate).

 

 

Involved fees earner: Julian Barendse – Allens; Anne Beresford – Allens; Hannah Biggins – Allens; Igor Bogdanich – Allens; Alexander Neerhut – Allens; Andrew Pascoe – Allens; Terence Zhou – Allens;

Law Firms: Allens;

Clients: Santos;

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Sonia Carcano

Author: Sonia Carcano