Walkers advises Trident Energy on Republic of Congo strategic deal

Apr 25, 2024

A man in a business suit signing a legal contract.

Global law firm Walkers has advised Trident Energy on the financing of its proposed acquisition of (i) the entire issued share capital of Chevron Overseas (Congo) Limited which holds a 31.5% non-operated working interest in the Moho-Bilondo, Nkossa, Nsoko II fields and a 15.75% operated interest in the Lianzi field; and (ii) additional 53.5% working interest in the Nkossa and Nsoko II fields from TotalEnergies (as well as divesting a 10% working interest in the Moho-Bilondo field to TotalEnergies.

Upon completion of the transactions, Trident Energy will hold an 85% working interest in the Nkossa and Nsoko II fields, a 15.75% working interest in the Lianzi field and will take over the operation of these fields. Trident Energy will also retain a 21.5% working interest in the Moho–Bilondo field, operated by TotalEnergies. Subject to approval from the relevant authorities, the transaction is anticipated to be completed by the end of Q4 2024.

Congratulations to Trident Energy on the signing of these transactions and on entering the Republic of Congo, building on their continued successes in Equatorial Guinea and Brazil.

The Walkers Cayman team was led by partner Catherine Overton, supported by associates Dina Anastas and Divya Selvaraj. The Walkers Bermuda team was led by partner Patrick Ormond, supported by associate Catherine Outerbridge. The Walkers Jersey team was led by partner Jon le Rossignol, supported by associate Rebecca Lever.

Walkers acted alongside lead transaction counsel, Bracewell, whose team was led by partners Olivia Caddy and Darren Spalding, with support from a team including Onis Chukwueke-Uba. Watson Farley Williams' team was led by Joe Levin, supported by Oli Baines, acting for the lenders.

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