Jurisdiction - China
Australia – Herbert Smith Freehills Advises Petrochina On Acquisition Of ConocoPhillips Assets In Western Australian.

22 February, 2013


Herbert Smith Freehills advised PetroChina on its acquisition of an interest in two Western Australian exploration assets from ConocoPhillips. 
Under the transaction agreements, which still require government and partner approvals, PetroChina will acquire a working interest in the Poseidon offshore discovery in the Browse Basin, and in the Goldwyer Shale area in the onshore Canning Basin. 
The companies have also entered into a Joint Study Agreement to identify unconventional resource reserves in the Neijiang-Dazu Block in China’s Sichuan Basin.   
The Herbert Smith Freehills team was led by Hong Kong based partner Hilary Lau and Perth consultant Bruno Camarri AM, assisted by senior associate Michael Boyce and associate Jane Ballard. 
"We are delighted to have advised PetroChina on this transaction, which continues PetroChina’s strategic investment in both conventional and unconventional gas resources in Australia and marks a significant step in the global collaboration between PetroChina and ConocoPhillips,” said Lau.
The transaction is expected to complete in the first half of 2013.



For further information, please contact:


Wendy Kam, Herbert Smith Freehills
[email protected]





Comments are closed.