LONDON – Bracewell (UK) LLP advised Trafigura on a $1 billion prepayment agreement with the Republic of Gabon. Trafigura will provide the prepayment to the Republic of Gabon in exchange for the future delivery of crude oil over a seven-year term. Trafigura will act as exclusive offtaker of the Republic of Gabon’s Profit Oil for the duration of the agreement. The proceeds of the prepayment will be deployed by the Republic of Gabon to advance its development agenda.
Oliver Irwin, who led the transaction for Bracewell, commented: “We were delighted to support Trafigura on this prestigious and important transaction with the Republic of Gabon through our London and Paris offices. This was a great opportunity for us to leverage the market leading experience of our Francophone Africa upstream oil and gas practice in order to deliver an excellent result for our client in a very short space of time.”
Bracewell lawyers involved in the transaction include:
Partners: Oliver Irwin, Ben James, Rob Meade and Simon Cudennec
Senior Counsel: Veronique Bruel and Rory Wilson
Senior Associates: Danielle Altink and Jameela Bond
Associates: Thomas Howard, Noémie Portut-Castel and Tala Fawaz
