UKELG Evening Talk, 26 October 2017
Key Issues in Upstream Development Financings

Thursday 26 October 2017 London, England

Contact the IBA Divisions team at divisions@int-bar.org for any questions.

White & Case Partners Tom Bartlett and Mukund Dhar, together with Geoff Knox from Portland Advisors, will discuss some of the key bankability issues and challenges faced by sponsors in raising funding to develop upstream oil and gas assets. We will address certain key due diligence issues (including identifying bankability issues in the applicable licensing regime, joint operating agreements, construction contracts and hydrocarbon sales contracts), identify the typical project risks (such as geology risk, reserves risk, political risk, construction risk, price risk and market risk) and illustrate how these risks can be allocated and mitigated, as well as the funders typical approach to addressing such project risks in the finance documents.

We will provide an overview of the funding process, identify the available funding sources to ensure a fully funded finance plan, outline the likely key financing terms, note the key issues to consider when taking security over oil & gas assets and provide a view on the current market trends and challenges in raising debt for development financings.

White & Case is a truly global law firm, uniquely positioned to help clients achieve their ambitions worldwide. The firm has been a premier provider of legal advice helping private and public sector oil, gas and petrochemical industry participants around the world achieve efficient and innovative solutions to their legal, regulatory and structural challenges. A global network of integrated offices and decades of industry experience enable our lawyers to provide advice that builds upon and adapts successful practices to meet the commercial and legal requirements of today’s markets.

Our commitment to client service is reflected in our longstanding relationships as advisors to many of the world’s leading oil and gas companies. White & Case regularly advises on market-leading transactions across the oil & gas value chain including the recent US1.5bn Chrysaor upstream reserves based lending acquisition financing, the Nord Stream mid-stream pipeline financing, a multi-billion Mozambique LNG project and the US$12.5bn downstream Sadara chemical project.

Portland Advisers is a financial advisory boutique that brings together banking and advisory professionals who have extensive experience in their respective markets. Through the teams based in the UK and Hong Kong, Portland Advisers provide expert, value-added advice on all aspects of the financing of infrastructure, power, oil & gas, renewable energy, mining and telecoms projects across all regions of the world. Portland has acted as financial advisor on recent major upstream oil and gas project financings for Yamal LNG in Russia, Coral South FLNG in Mozambique and Offshore Cape Three Points/Sankofa in Ghana, and is currently advising Premier Oil on the financing of the Phase 1 Development of the Sea Lion project in the Falkland Islands.

How to register

There is no charge to attend this seminar. Please click here to register your attendance (please note that places are limited). Alternately, please contact Jessica Rattle at jessica.rattle@int-bar.org or +44 (0)20 7842 0090 by Wednesday 25 October 2017 in order to list your name as a participant for the evening. This list of attendees will be distributed at the event.