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Standard Chartered Leads Trans-Niger Oil & Gas’ Acquisition Of OML 17

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Standard Chartered Bank stood as Global Co-Ordinator/Financial Advisor to Heirs Holdings Oil & Gas Limited (formerly Trans-Niger Oil & Gas Limited).

According to a report, the acquisition of a 45% working interest in OML 17 (a producing onshore oil and gas asset in Nigeria) from Shell Petroleum Development Company of Nigeria Limited (“SPDC”), Total E&P Nigeria Limited (“TEPNG”) and Nigerian Agip Oil Company Limited (“NAOC”) (a subsidiary of ENI SpA). 

Standard Chartered urged HeirsHoldings Oil & Gas on all aspects of the transaction including market sounding, investor screening, transaction structuring, negotiation with financiers and the sellers, regulatory engagement, overall process management and completion escrow account structuring and management.

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Standard Chartered Leads Trans-Niger Oil & Gas’ Acquisition of OML 17

Standard Chartered Bank

The Transaction, which is the largest oil & gas M&A deal in Africa in recent times, further demonstrates the Bank’s extensive knowledge of the Oil & Gas industry, access to investors and diverse capital sources, strong M&A capabilities and trusted relationship with the key transaction stakeholders.

READ: Standard Chartered Appoints Olukorede Adenowo As Executive Director

Speaking on the transaction, Korede Adenowo, Executive Director, Corporate, Commercial and Institutional Banking, Nigeria & West Africa, Standard Chartered said: “Standard Chartered is proud to have partnered with HeirsHoldings Oil & Gas to deliver completion on this landmark transaction and we look forward to supporting HeirsHoldings Oil & Gas to realize value from this world-class asset. We continue to work with our clients across the oil & gas value chain to support them on their growth aspirations”.

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