Global law firm Hogan Lovells has advised UK based energy company Prax Group on its agreement to acquire all of TotalEnergies’ operated interests in the West of Shetland Greater Laggan Area oil and gas fields, and the onshore Shetland Gas Plant. Completion of the transaction is subject to customary approvals.
The strategic transaction includes the transfer of several key assets, namely the Laggan, Tormore, Glenlivet, Edradour, and Glendronach fields, the onshore Shetland Gas Plant, and nearby exploration licenses.
The Hogan Lovells team advising the Prax Group was led by London-based energy M&A partner Alastair Young with support from our wider full-service team including partners Andrew Shaw, and Philip Harle (tax), counsel Tom Eyre-Brook (tax), senior associates Andreas Demetriou, Firas Albani and Tom Edwards and associate Akhil Parekh.
Commenting on the transaction, Alastair said: “We are delighted for the Prax Group on reaching its agreement to acquire these assets from TotalEnergies. This represents an important milestone in the development of Prax’s oil and gas business and we are thrilled to support Prax as its lead legal advisors on this transaction.”
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