White & Case advises SOCAR on acquisition of an interest in the Umm Lulu, SARB, Bin Nasher and Al Bateel offshore concession

Global law firm White & Case LLP has advised the State Oil Company of Azerbaijan Republic (SOCAR) on the acquisition from the Abu Dhabi National Oil Company (ADNOC) of a 3 percent participating interest in the Umm Lulu, Satah Al Razboot (SARB), Bin Nasher and Al Bateel offshore concession located in the United Arab Emirates.

"We are delighted to have supported SOCAR on its first ever international upstream investment. This transaction represents the continued growth of SOCAR and ADNOC's strategic relationship across all facets of the energy sector," said White & Case partner Mukund Dhar, who co-led the Firm's deal team. "Our role on the transaction reinforces our market leading reputation advising on strategic, cross border partnerships in the energy sector."

The transaction follows the acquisition by ADNOC of a 15 percent participating interest in the Absheron gas-condensate field from SOCAR which signed in August 2023, and SOCAR and ADNOC's strategic collaboration on the potential development of low-carbon solutions announced in December 2023.

The Umm Lulu, SARB, Bin Nasher and Al Bateel offshore concession is made up of two main fields, Umm Lulu and SARB, as well as two smaller fields, Bin Nasher and Al Bateel. The concession is operated by Abu Dhabi Company for Offshore Petroleum Operations Limited (trading as ADNOC Offshore).

The White & Case team that advised on the transaction was led by partners Kamilla Azamat, Mukund Dhar and Margot Berry (all London) and included partners Stefan Mrozinski, Sonia Abdul-Rahman (both Dubai), counsel Chris Thomas (London) and associates Nick Crawford, Asad Khan, Iman Adebowale, Maha Alali (all London), Anisah Giansiracusa (Abu Dhabi) and Ahmad Bin Dalmook (Dubai).

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