Shearn Delamore & Co. Advised Totalenergies On Acquisition Of SapuraOMV Upstream
Shearn Delamore & Co. Advised Totalenergies On Acquisition Of SapuraOMV Upstream
Shearn Delamore & Co. acted as Malaysian Counsel for TotalEnergies Holdings SAS (TotalEnergies) in respect of its acquisition of SapuraOMV Upstream Sdn Bhd (SOMV Upstream).
SOMV Upstream is an investment holding company, with its subsidiaries primarily engaged in the exploration, development, and production of crude oil, natural gas, and natural gas liquids in Malaysia, Australia, New Zealand, and Mexico.
SOMV Upstream’s assets include a 40% operated interest in Block SK408 and a 30% operated interest in Block SK310, both situated offshore in Sarawak, Malaysia.
On April 22, 2024, TotalEnergies entered into a conditional agreement with Sapura Upstream Assets Sdn Bhd (SUA), a wholly owned subsidiary of Sapura Energy Berhad, to purchase SUA’s 50% interest in SOMV Upstream.
This agreement with SUA follows an earlier conditional agreement signed between TotalEnergies with OMV Exploration & Production GmbH (“OMV”) on 31 January 2024 for the acquisition of OMV’s 50% interest in SOMV Upstream.
After completion of both transactions, SOMV Upstream would be a wholly owned subsidiary of TotalEnergies.
Shearn Delamore & Co. team was led by Partners Putri Noordin and Zhen Pik L., supported by Partners Marhaini Nordin, Jimmy Liew, Koo Yin Soon, and Jamie Goh. Senior Associates Charlie Wong Jing Xiong and Aisyah Muhammad, along with Associates Kar Mun Ng, Hazeeq Danial Norazlan, and Sachin Niranjan Thavalingam, offered valuable assistance.
