Latham & Watkins has advised and supported Woodside Energy (Woodside), a global energy company, on its recent agreement with Pancontinental Energy NL (Pancontinental).

Pancontinental are to secure Woodside an exclusive option to acquire from Pancontinental at least a 56% interest, with further ability to increase that interest through time, in Namibia Petroleum Exploration License 87 (PEL 87) in the Orange Basin offshore Namibia. Should Woodside exercise the option for PEL 87, the agreement will allow Woodside to be an operator in what is currently viewed as one of the most exciting oil and gas basins in the world.

The Latham team was led by London corporate partner Simon Tysoe and Houston corporate partner Justin Stolte, with London corporate associates George Venables and Saavan Shah. Advice was provided on tax matters by London partner Sean Finn and Houston partner Tim Fenn.