Dentons’ latest deals

Dentons has advised Total on its bid for an interest in the new 40 year Abu Dhabi onshore oil concession, known as the new ADCO onshore concession. The first stakeholder to be awarded a concession interest by the Supreme Petroleum Council of Abu Dhabi, Total receives the maximum available 10 per cent participating interest, effective January 2015. Total was also appointed Asset Leader for the key Bu Hasa and South East assets, which collectively represent approximately two-thirds of ADCO’s production.

The new ADCO concession is a historic reallocation of partnerships between some of the world's largest oil companies and state-run Abu Dhabi National Oil Company (ADNOC) following the expiry of the original concession in 2014.  The concession, Abu Dhabi's largest and oldest, covers the Emirate's fifteen principal onshore oil fields and represents more than half of Abu Dhabi's production.

The Dentons team was led by Abu Dhabi based partners Andrew Ward and Rajan Phakey, and included partners Catherine Bingham and James Dallas and senior associate Anna Copeman.

Dentons also advised a consortium of banks led by Islamic bank Al Hilal Bank, based in Abu Dhabi, on a USD200 million Shari’ah-compliant syndicated facility. The financing was made available to Islamic bank Ajman Bank, to support its banking activities. The dual tranche facility comprised Murabaha and Wakala structures for which the participants were regional Islamic banks, Al Hilal Bank, Emirates Islamic Bank, Sharjah Islamic Bank and Qatar Islamic Bank.The Dentons team was led by Qasim Aslam working with associates Ahmed Choudhry and Atif Choudhary.