Global law firm White & Case LLP and the Law Office of Megren M. Al-Shaalan (LOMAS) have advised the Saudi Arabian Oil Company (Saudi Aramco) on the US$1 billion Tanajib Cogeneration and Desalination Plant.
"We are very pleased to have advised Saudi Aramco on all aspects of this innovative project, from initial structuring through tendering, negotiation, award, signing and closing," said White & Case partner Antoine Cousin. "Tanajib forms part of a critical energy diversification and transition initiative for the Kingdom of Saudi Arabia."
The plant will be located in Tanajib, in the Eastern Province of the Kingdom of Saudi Arabia. The project is structured on a long-term 20 years build, own, operate and transfer (BOOT) basis with the utilities (and particularly steam) produced by the plant being a critical input for the strategic Marjan Project, which is central to Saudi Arabia’s ambitions to develop its gas resources as part of the global energy transition.
When constructed, the cogeneration plant and the seawater desalination plant will have a net capacity of approximately 940MW of electricity generation, a steam output of approximately 1,084 tons per hour, and a desalinated water output of approximately 19,470 cubic meters per day.
A partnership of Marubeni Corporation and Abu Dhabi National Energy Company PJSC (TAQA) holds a 60 percent interest in the project, evenly split between Marubeni Corporation and TAQA, with the remaining 40 percent held by Saudi Aramco Power Company.
LOMAS partner Alec Johnson noted: "White & Case lawyers from across the region, together with the LOMAS team in Riyadh, combined to help execute another successful BOOT project for our long-standing and valued client Saudi Aramco. The team worked together seamlessly to support Saudi Aramco during the course of a complex transaction."
The White & Case and LOMAS team that advised on the transaction was led by partners Antoine Cousin (Abu Dhabi) and Alec Johnson (LOMAS, Riyadh) and included partners Megren Al-Shaalan (LOMAS, Riyadh), Ivan Paskal (Dubai) and Adam Pierson (Abu Dhabi), counsel Habeeb Rahman (Abu Dhabi) and Nathaniel Crowley (Hong Kong) and associates Michael Gabriel (LOMAS, Riyadh), Adam Freeman, Fergus Langstaff (both Abu Dhabi), Elaf Al-Wohaibi, Nezar Al Abbas, Ghazi Kayal, Waad Alkurini (all LOMAS, Riyadh), Sofia Lambert and Phillan Amin (both London).
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