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A&O advises BG Group on exchange of North Sea assets

A&O advises BG Group on exchange of North Sea assets

 4 December, 2008

 Allen & Overy LLP is advising BG Group plc in relation to its significant exchange of equity interests in certain North Sea production assets with subsidiaries of BP plc.

Subject to satisfaction of certain conditions, BG Group proposes to acquire BP's entire equity in the Everest, Lomond and Armada fields and part of BP's equity in the Erskine field, operated by Chevron. All of the BP fields are located in the UK Central North Sea. In return, BG Group will transfer all of its equity interests in fields in the Southern North Sea to BP.

Working closely with BG Group's in-house legal team, including Daniel Silver and Tom Hargreaves, the Allen & Overy team was led by energy partner Tim Shilling, working with Ashley Woods, Michael Burns and Conan Lauterpacht.  Employment and pensions advice was provided by partners Derek Sloan and Mark Mansell, assisted by Stephen Beattie, Blair Wiggins and David Cummings.

Commenting, Tim Shilling said: "This is a strategically important transaction for BG Group and we are delighted to be able to assist them on it.  We have a longstanding and much valued relationship with BG and it is fantastic that we have been able to continue to develop that relationship by advising them in relation to this deal."

 

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