Oil & Gas

Saudi Aramco

White & Case advised Saudi Aramco on a US$11 billion lease-and-lease-back deal relating to its Jafurah gas processing facilities, with a consortium of international investors led by funds managed by Global Infrastructure Partners, part of BlackRock. As part of the transaction, Jafurah Midstream Gas Company (JMGC) will lease development and usage rights for the Jafurah gas plant and the Riyas NGL fractionation facility, and lease them back to Saudi Aramco for a period of 20 years.

Co-investors in Blackstone-led consortium

White & Case advised the co-investors in a Blackstone Credit & Insurance (BXCI)–led investor consortium on a US$7 billion investment in Sempra Infrastructure Partners' Port Arthur LNG Phase 2. Funds managed by BXCI, together with KKR, Apollo-managed funds and Private Credit at Goldman Sachs Alternatives, acquired a 49.9 percent minority equity interest in the project. The new phase will include two natural gas liquefaction trains, one LNG storage tank and associated facilities with a nameplate capacity of approximately 13 million tonnes per annum of US-produced LNG to help deliver reliable energy to global markets.

Vitol

White & Case advised Vitol in connection with its equity investment in Delfin FLNG 1 JVCo LLC, the joint venture established to develop Delfin Midstream Inc.'s US$5 billion first floating liquefied natural gas (FLNG) vessel in the Gulf of Mexico. Delfin FLNG 1 will be the first floating liquefaction facility in the United States and, with an expected export capacity of 4.4 million tonnes of LNG per year, the largest FLNG project globally.

EOG Resources

White & Case advised EOG Resources, Inc., one of the largest crude oil and natural gas exploration and production companies in the US, on securing a new oil unconventional exploration concession in Abu Dhabi. The concession, for Unconventional Onshore Block 3, was awarded to the company by the Emirate’s Supreme Council for Financial and Economic Affairs. The concession area is 3,609 square kilometers, or nearly 900,000 acres, in an over-pressured, oil-prone basin within the Al Dhafra region.

Galp Energia

White & Case advised Galp Energia on its exchange of interests with TotalEnergies in Namibia's Orange Basin. The transaction centers on two of the most significant oil discoveries in Namibia: the Venus and Mopane oil fields. Under the agreement, Galp Energia will exchange its 40 percent participating interest in petroleum exploration license (PEL) 83, which contains the Mopane oil field, for TotalEnergies' 10 percent interest in PEL 56 and 9.39 percent interest in PEL 91, which contain the Venus oil field.

Waldorf

White & Case advised Waldorf Production UK PLC (WPUK), Waldorf CNS (I) Limited (WCNS(I)), Waldorf Energy Partners Limited (in administration) (WEPL), Waldorf Production Limited (in administration) (WPL) and their subsidiaries (the Waldorf Group), on their financial restructuring to deliver a sale of the operating subsidiaries (the Target Group) to a wholly owned subsidiary of Harbour Energy PLC. This matter is widely regarded as one of the most high-profile and complex transactions in the European restructuring market.

TOTSA TotalEnergies Trading (TOTSA)

White & Case advised TOTSA TotalEnergies Trading, S.A. (TOTSA) on its strategic commodities trading joint venture with Bapco Energies B.S.C., the energy investment arm of the Kingdom of Bahrain.

Mozambique LNG

White & Case advised the financiers on a landmark US$25+ billion project financing of Mozambique's first onshore LNG development, Mozambique LNG. This transaction was awarded "Global Multilateral Deal of the Year" by PFI Awards, "Africa Oil & Gas Deal of the Year" by IJGlobal and "Structured Loan Deal of the Year" by Bonds & Loans Africa.

Lotte Chemical 

White & Case advised Lotte Chemical Corporation and PT Lotte Chemical Indonesia on the development and financing of a US$2.4 billion naphtha cracker project in the Banten Province of Indonesia. The cracker plant uses naphtha and liquefied petroleum gas as its feedstock to produce 1,000 KTA of ethylene and 520 KTA of propylene. The lenders included The Export-Import Bank of Korea, Korea Trade Insurance Corporation and 12 other commercial banks.