7 June 2013
Watson, Farley & Williams Asia Practice LLP (“WFW”), a leading international law firm, is pleased to announce that it has advised Petrofac and SapuraKencana as sponsors in relation to a facility of US$300,000,000 for the re-financing of the floating production, storage and offloading facility named “FPSO Berantai”.
The FPSO Berantai is currently deployed in a marginal field in Malaysian waters with Petrofac Energy Developments Sdn Bhd as field operator.
SapuraKencana Petroleum Berhad is a major oil and gas services company headquartered in Malaysia. Petrofac Limited, one of the world’s leading oilfield service companies, provides integrated services across the oil and gas asset life cycle in 29 countries worldwide.
The loan facility was provided to Berantai Floating Production Limited, a joint venture entity owned by the sponsors, by a syndicate of lenders consisting of Malayan Banking Berhad, Natixis Singapore Branch, Standard Chartered Bank and Sumitomo Mitsui Banking Corporation. Natixis Singapore Branch acted as co-ordinating bank for the lenders and Standard Chartered Bank (Hong Kong) Limited was appointed as facility agent and security agent.
Partner Andrew Nimmo led the WFW team for this deal and was assisted by senior associate, Shawn Er.
WFW partner Andrew Nimmo commented: “We are delighted to achieve a successful completion of this keenly structured facility for Petrofac and SapuraKencana.”