Lewis Silkin advises Orion Energy Plc on establishment of joint venture with Pakistan Petroleum Ltd
28 June 2013
Lewis Silkin has advised its client Orion Energy Plc on the establishment of a joint venture with Pakistan Petroleum Limited (PPL) to develop the offshore oil and gas potential of Pakistan.
Lewis Silkin has advised its client Orion Energy Plc on the establishment of a joint venture with Pakistan Petroleum Ltd (PPL) to develop the offshore oil and gas potential of Pakistan.
Orion Energy Plc is an oil and gas exploration company based in the United Kingdom with offices in Milan and Italy. The two companies plan to jointly study the Indus and Makran offshore areas in Pakistan for hydrocarbon potential which may require investments of more than US$100m.
PPL is the pioneer of the natural gas industry in the country and has been a frontline player in the energy sector since the mid-1950s. As a major supplier of natural gas, PPL today contributes around 24 percent of the country’s total natural gas supplies besides producing crude oil, Natural Gas Liquid and Liquefied Petroleum Gas.
Mr. David M. Thomas, Director Orion Energy, says “We were encouraged by PPL’s strong technical team and good corporate governance and our joint venture presents Pakistan with an excellent opportunity to meet its increasing energy demand”.
The signing ceremonies coincided with PM David Cameron’s bilateral visit to Pakistan and both Orion Energy and Lewis Silkin formed part of a senior business delegation alongside the likes of GlaxoSmithKline, Standard Chartered, Nishat Group and Lucky Cement which met with the Prime Minister.
The Lewis Silkin team was led by Corporate Finance partner Nadim Khan, alongside senior associate Ian McDonald. Nadim says “Lewis Silkin is delighted to have supported Orion Energy Plc in establishing this joint venture. This continues our ongoing lead role, alongside UKTI, and the Foreign & Commonwealth Office, in assisting Governments to explore, identify and commercialise, untapped and under-developed mining and oil & gas opportunities in their respective countries whilst also bridging the gap with the London capital markets and increasing bilateral trade with the UK”.
Click here for further information, via the UK Government website, on this joint venture and the UK Prime Minister David Cameron’s June 2013 visit to Pakistan.