We work with our clients to leverage on the opportunities and overcome the challenges around the legal and regulatory framework of the Nigerian oil and gas industry, to create lawful advantage(s) for our clients. Our services enable our clients grow their businesses, through our expert guidance on industry-specific laws and regulations, such as understanding sector-specific tax regimes; obtaining relevant licenses, leases and permits; as well as negotiating and drafting joint venture, equipment leasing, corporate/project financing and other service-provider agreements. We also assist our clients with advice and guidance on the finance sourcing options and models such as reserved based lending structures, forward prepayment, sale structures and capital market financing.
One of our partners has over ten years experience in commercial banking treasury operations, corporate/project financing expertise and experience, which has been brought to bear on understanding the requirements and demands of Oil and Gas financing for the development of marginal field assets, post-acquisition and off-taker agreements.
We also carry out comprehensive due diligence on companies in Nigeria; and have worked as a team with financiers and auditors to mitigate associated risks of mergers and acquisitions, and to ensure the success of our clients’ investments and the realisation of long term business objectives.
We also understand and can guide our clients through the requirements of Nigerian oil and gas law, as provided by governing legislations namely, the Petroleum Act, particularly, compliance with obligations imposed upon licensees, as to licensee reports, license renewal requirements including duration and deadlines to be met by law; requirements and timelines of oil exploration and oil prospecting licenses, oil mining leases, assignments and farm -outs of licenses and leases.
Our clients rely on our expertise to fulfill legal and regulatory obligations arising from acquisition, licensing and exploration of oil blocks, appraisal of residual oil, development and drilling of oil, production, process and sale of crude oil, taxation of oil and gas, foreign and local capital investment, mergers and acquisition, royalties and tax revenues, environmental laws and host community protection laws, acquisitions and farm- out opportunities, enabling our clients to stay on top of their businesses by complying with stringent regulations and applicable laws on fees, rents, royalties, petroleum profits tax and pay roll taxes.
The firm negotiates, drafts and advises its clients on Farm out agreements under production sharing contracts, joint operations/joint venture agreements, petroleum products marketing agreements, technical services agreements- environmental, joint study and bid agreements in the Oil and Gas industry, sales and purchase contracts for crude oil, confidentiality agreements for sale and purchase of interest in oil exploration licenses and leases, international and bid group agreements for oil and gas exploration, process engineering services support agreements, model agreements for drilling services in the oil and gas industry, model turnkey agreements for execution of general services contracts in the oil and gas industry, agreements for acquisition of businesses, consultancy agreements for monitoring crude oil lifting, engineering, procurement and construction agreements, project management agreements, subcontract service agreements for desludging and cleaning of crude oil storage tanks, amongst others.
We ensure on behalf our clients that these agreements comply with the stipulations of the Bureau of Public Enterprises Act and the Federal Competition and Consumer Protection Act, amongst others.
We proffer and advise on suitable clients’ arrangements, agreements, contracts or Memoranda Of Understanding (MOUs) relevant to operations and transactions in the Nigerian Oil and Gas industry, to ensure compliance with requirements of the Nigerian Oil and Gas Industry Local Content Development Act (NOGICD Act) and requisite Nigerian content plans for certificate of authorization. The firm regularly advises on compliance with Nigerian content requirements for training, employment and projects, Research and Development plans, compliance of joint ventures/alliances and technology transfer agreements with NOGICD Act; compliance with requirements on Nigerian content insurance and legal services plan, utilization of Nigerian financial services, filing of Nigerian content performance reports, payments and deductions into the Nigerian content development fund in compliance with the Coastal and Inland Shipping (Cabotage) Act.