Herbert Smith Freehills has advised Mitsui E&P Australia (Mitsui) on the sale of AWE (AAL) NZ Limited to Indonesian-based PT Bumi Pratiwi Hulu Energi, part of the Soechi group.
AWE (AAL) NZ Limited holds a participating interest in the Northwest Natuna Production Sharing Contract which governs the Ande Ande Lumut heavy oil field development.
The divestment aligns with Mitsuiās active transition strategy to a low-carbon energy future with an invigorated focus on its Australian assets and new businesses.
The Herbert Smith Freehills team was led by Perth corporate energy partnerĀ Graeme GambleĀ with support from senior associateĀ James MoormanĀ and solicitors Annabel Seow and Elliot Holland.
Mr Gamble was assisted by director and head of projectsĀ Adrian WongĀ and senior associateĀ Weihong LinĀ at Herbert Smith Freehills Prolegis, the firm’s foreign law alliance in Singapore, and senior international counselĀ Matthew GoerkeĀ and associate Paskalia Deviani from Hiswara Bunjamin & Tandjung, Herbert Smith Freehills’ associate Indonesian firm. New Zealand counsel to Mitsui on the transaction was Webb Henderson.
Soechi was advised by Dentons Singapore and Jakarta.
Mr Gamble commented on the deal: āWe are delighted to have worked in synergy with Mitsui as part of its broader decarbonisation strategy. This transaction is indicative of Mitsuiās strong position in a new energy futureā.
