Indonesian law firm Soewito Suhardiman Eddymurthy Kardono (SSEK), Herbert Smith and Norwegian law firm Wikborg Rein have advised on a US$875m project financing deal – Kangean Energy Indonesia’s (KEI) investment into BW Offshore for a floating gas production unit lease in Indonesia.
Herbert Smith advised KEI on the 10-year charter contract – with additional options of up to four years – with BW Offshore for the unit to operate on the Terang Sirasun Batur gas fields in Indonesia. First gas is planned for early 2012. The unit will be used to process gas for delivery to the domestic Indonesian market via the East Java gas pipeline.
The Herbert Smith energy team was led by head of Asia energy practice Anna Howell and senior associate Hilary Lau. Herbert Smith worked alongside the Indonesian legal team at associated firm Hiswara Bunjamin & Tandjung (HBT) where Herbert Smith partner Brian Scott and HBT partner Mira Fadhya led the team assisted by Charles Ball, Alison Battison and Ninditya Prijono. The team was also supported by Hong Kong finance partner Alexander Aitken and senior associate Kanyi Lui.
Herbert Smith won this mandate through its previous relationship with Kangean Energy shareholders.
BW Offshore was represented by Wikborg Rein and Soewito Suhardiman Eddymurthy Kardono (SSEK).
The lead lawyer at Wikborg Rein is Oslo-based partner Finn Bjørnstad and at SSEK, the lead partner involved is Michael Twomey.ALB
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