Hogan Lovells advises ExxonMobil on joint divestment of Southern North Sea assets
23 August 2024 – Hogan Lovells has advised Esso Exploration and Production Limited (EEPUK), a subsidiary of ExxonMobil, on its sale of a package of upstream assets in the UK Southern North Sea to RockRose Energy Limited.
The agreement with RockRose Energy Limited, a wholly-owned subsidiary of independent British oil and gas company Viaro Energy Limited, includes Esso’s interests in 10 mature fields and associated infrastructure including the Bacton Gas Processing Terminal.
The transactions are expected to close in 2025, subject to regulatory approvals.
The Hogan Lovells team was led by Global Head of Oil, Gas and LNG, Ben Sulaiman with support from senior associates, Janet Duff, Tom Edwards and Emily Harris. Senior associate Siân Howes and senior legal consultant Kevin O’Connor advised on real estate and environmental matters.
Commenting on the success of the transaction, Ben said: “We are proud to have advised ExxonMobil on this major transaction, a landmark for ExxonMobil and the oil and gas industry in the UK. It’s been a fascinating and complex instruction supporting ExxonMobil through its divestment, and demonstrates the depth of oil and gas expertise in our team. ”
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