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Natural Resources (Mineral, Oil and Gas)

Our multidisciplinary Mineral, Oil & Gas group offers a wide range of legal services, including transactional expertise in corporate/mergers and acquisitions, tax, competition, off-take agreements, restructuring, capital markets, and project finance.  We also offer broad regulatory expertise. 

Within the mining and natural resources sector, we have advised clients on numerous acquisitions and disposals of mining concessions and palm oil plantations. In 2010 alone, the firm has been involved in the acquisition and or development of 60,000 hectares of mining area and in excess of 60,000 hectares of palm oil plantations.

 For our Projects, Energy & Infrastructure capabilities, please click here.

Practice Areas 

Corporate/M&A

PetroChina acquisition of Singapore Petroleum Company (US$2.2 billion) [Awarded ALB SE Asia Deal of the Year 2010, ASIAN-COUNSEL DEAL OF THE YEAR 2009]
Advised PetroChina International (Singapore) Pte. Ltd., a subsidiary of PetroChina Company Limited (“PetroChina”), on its acquisition of Keppel Oil and Gas Services Pte Ltd's (“Keppel”) stake in Singapore Petroleum Company Limited ("SPC") and its subsequent mandatory conditional cash offer for and compulsory acquisition of the remaining shares in SPC. 

Acquisition of controlling stake in Chemoil by prospective purchaser (US$459 million)
Advised Swiss-based Glencore International, the prospective purchaser of a controlling stake in Singapore marine fuel supplier, Chemoil Energy. The bid was eventually won by Glencore, which bought a 51 per cent stake in Chemoil. The offer valued Chemoil at US$459 million.

Competition

A proposed large multi national energy and petrochemical company’s acquisition of shares in a Singapore company
Analysed a proposed large multi national energy and petrochemical company’s acquisition of shares in a Singapore company. The analysis considered whether the acquisition would likely give rise to substantive competition law concerns under section 54 of the Singapore Competition Act.

Major petrochemical company
Advised a major petrochemical company in relation to competition compliance matters.

Major oil company
Advised a major oil company on its business practices and measures to take with to comply with the Competition Act.

Off-take Agreements

Woodside Energy’s bid to be the sole LNG aggregator or buyer for Singapore
Advised Woodside Energy, in its bid to be the sole LNG aggregator or buyer for Singapore. Drew & Napier, working with Clifford Chance, advised on various Singapore law issues in respect of their bids and plans.

Off-Take Agreements
Advised on numerous off-take agreements for minerals, coal, CPO, oil & gas products, petrochemicals.

Restructuring

Tuban Petro Group Restructuring (US$1 billion)
Advising as part of a team dealing with the restructuring of the Tuban Petro Group. The petrochemical group signed a comprehensive debt restructuring term sheet with its principal creditors, the Government of Indonesia, Pertamina and BPMIGAS in May 2011 and is in the process of implementing the terms of the restructuring. The Tuban Petro Group restructuring is considered by the Government of Indonesia to be the largest and potentially most successful restructuring in Indonesia. 

PRC state-owned oil company in an oil exploration, development and production project in East Africa
Advised a PRC state-owned oil company in an oil exploration, development and production project in East Africa. Drew & Napier was the coordinating counsel and was responsible for structuring the deal and for negotiating the various agreements such as the Memorandum of Understanding and  shareholders’ agreement.

PRC state-owned oil company in a US$150 m ship-building investment
Advised on restructuring certain existing obligations and a tender award for the construction of a seismic survey vessel valued at US$86m by a South Korean shipyard. Drew & Napier was coordinating counsel for the tender process which involved shipyards from various countries, and was responsible for negotiating and drafting the final documentation for the restructuring and the construction of the seismic survey vessel.   

Tax

Tax and business process review for a national oil company
Conducted a comprehensive review of the business processes of a national oil company to ensure compliance with the applicable tax laws. 

Foreign government – Petroleum taxation
Advised the Government of a foreign country on petroleum taxation.