PortlandPortland

By Nick Flitterman

Portland Appointed on Sea Lion

Portland Appointed on Sea Lion

Portland has been mandated as financial advisor to Premier Oil plc on the export credit agency led limited-recourse project financing for the Phase 1 development of the Sea Lion oil field. The estimate for gross capex including drilling and the subsea development in the period up to first oil is $1.5 billion.

The Sea Lion complex is located in the North Falkland Basin in the South Atlantic 140 miles (220km) to the north of the Falkland Islands at a water depth of 450m. Following a farm-in transaction in 2012, Premier Oil holds operatorship and a working interest of 60%. The remaining working interest is held by Rockhopper Exploration plc.

See the following link to the Premier Oil website for further details:

www.premier-oil.com/operations/falkland-islands

To discuss this further, contact Geoff Knox +44 20 7183 8387 or geoff.knox@portlandadvisers.com or Keith O’Donnell on +44 20 7183 8288 or keith.odonnell@portlandadvisers.com

By Nick Flitterman

Yamal LNG signs €750 million SACE and COFACE deal

On 12 December 2016 Yamal LNG signed 15 year loan agreements supported by Servivi Assicuratavi del Commercio Esterio (SACE) and Compaignie Francaise d’Assurance pour le Commerce Exterieur (COFACE). Portland advised both SACE and COFACE in relation to these financings. These facilities are in addition to the $12 billion of financing provided by the Export-Import Bank of China and China Development Bank in April 2016, on which Portland also advised.

For further information contact Geoff Knox on +44 20 7183 8387 or geoff.knox@portlandadvisers.com