McDermott Advises Mercuria On Financing Batavia Oil’s Acquisition Of Perenco Rang Dong Limited – Block 15-2 Rang Dong Oil Field Offshore Vietnam

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A team from McDermott Will & Emery’s Singapore and London offices advised Mercuria on the successful financing of Batavia Oil’s acquisition of Perenco Rang Dong Ltd from Perenco Overseas Holdings Ltd, which holds a 30.5% non-operating interest in the Block 15-2 Rang Dong oil field, offshore Vietnam.

Block 15-2 lies offshore Vietnam, in the Cuu Long Basin approximately 135 kilometres southeast of Vung Tau at a water depth of approximately 56 meters. Japan Vietnam Petroleum Company as the operator of the Block 15-2 started exploration activities in October 1992 and found the Rang Dong oil field in June 1994 through its first exploration well. Block 15-2, comprises the Rang Dong and Phuong Dong fields.

Founded in 2017 and headquartered in Singapore, Batavia Oil is an oil and gas production company, founded on principles of solid subsurface data, cost efficiency and good operator field management practice.

Founded in 2004, Mercuria is one of the largest independent energy and commodity groups in the world, bringing efficiency to the commodity value chain with cutting-edge technology and unmatched expertise and solutions. Mercuria’s business includes trading flows, strategic assets and structuring activities that generate more than US$110 billion in turnover. It operates from offices around the world, with a strong presence in the Americas, Asia and Europe. Information on Mercuria can be found on its website at www.mercuria.com.

McDermott’s cross-border team was led by partner Merrick White and included partners Aymen Mahmoud and Alfred Chia. Associates Nicholas Jupp and Giulia Venanzoni and Ryan Clarke also advised.

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