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About Adam

Adam Waszkiewicz focuses his practice on corporate and finance matters within the energy sector. He has experience in M&A, reserve based finance, equity capital fundraising, joint ventures, corporate reorganizations and other commercial agreements relating to the oil and gas industry. Adam regularly advises on multi-jurisdictional transactions and has acted for borrowers, lenders, purchasers, and sellers.

He recently spent eight months on secondment with an E&P company, giving Adam a thorough understanding of the commercial issues that face oil and gas companies in the current market.

Experience

Recent Notable Matters

Genel Energy plc — acquisition of interests in the Chevron operated Sarta and Qara Dagh blocks in the Kurdistan Region of Iraq

Impact Oil & Gas Ltd — financing arrangements for the acquisition of an interest by Main Street 1549 Proprietary Limited (a Black Economic Empowerment company) in the Exploration Right for Block 11B/12B (offshore South Africa) and the first exploration well to be drilled on the block, and the associated $35M equity placing, as lender

Ophir Energy plc — $2 billion floating LNG project offshore Equatorial Guinea, including host government arrangements, LNG sales agreements, chartering agreements, joint venture arrangements, project financing, and construction

BG Group — acquisition from Shell of a 30 percent interest in upstream oil and gas assets in Colombia

Genel Energy plc — business in Kurdistan and elsewhere, including on the development and commercialization of its Miran and Bina Bawi gas discoveries for export to Turkey, the acquisition of OMV’s interest in the Bina Bawi Block, the farm-down of the Chia Surkh block, crude transportation and marketing arrangements

Rhino Resources, Ltd — building of an African upstream exploration portfolio in South Africa, Namibia, Comoros Islands and Senegal-Guinea Bissau AGC

Hess Corporation — $1 billion sale to ONGC Videsh of its interests in the ACG field in Azerbaijan and BTC pipeline

DNO — merger with RAK Petroleum of their Middle East and North African upstream oil and gas businesses, valuing the combined assets at $1.9 billion

JKX Oil & Gas plc — acquisition and disposal of upstream interests in Hungary

Murphy Oil Corporation — sale of its entire North Sea upstream oil and gas business, including its interests in the Schiehallion field to Shell, Mungo and Monan fields to First Oil and the Amethyst field to Perenco

Hess Corporation — $525 million sale of its interest in the Beryl field and Scottish Area Gas Evacuation System to Shell

Phillips 66 — sale of its interests in the Immingham Combined Heat and Power Plant to Vitol

Delek Drilling L.P. — $900 million financing for the Tamar natural gas field development offshore Israel and in relation to facility sharing arrangements for the development of the Tamar field

Private equity investor — sale of its interest in an international offshore oilfield services business

Publications and Speeches

“Unlocking the potential of shale gas in the UK energy mix,” Oil & Gas Financial Journal, February 2014.

“Fracking in the UK: the Shale Gas Industry Begins to Take Shape,” Natural Gas Europe, February 2014.

Credentials

Education

College of Law,
L.P.C.
2010
with distinction
College of Law,
G.D.L.
2009
University College London,
B.Sc.
2008

Bar Admissions

Solicitor of the Senior Courts of England and Wales

News

Insights

Insights

UK Government announces major North Sea tax cuts

The existing tax regime for exploration and production of oil and gas in the UK and UK Continental Shelf ("UKCS") comprises three elements: (i) Petroleum Revenue Tax ("PRT") at a rate of 50% which is levied on profits from fields given development consent before 16 March 1993; (ii) Ring Fence Corporation Tax at a rate of 30% levied on the post-PRT profit of companies engaged in oil and gas extraction activities; and (iii) Supplementary Charge at a rate of 30% (with effect from 1 January 2015, prior to the 2014 Autumn Statement this was levied at a rate of 32%) which is levied on the post-...

Reforming the Argentinian Oil and Gas Regime

January 16, 2015

In order to prevent the increase of energy prices and to safeguard domestic supply, at the start of the millennium the Argentinian federal government made various amendments to the legal regime regulating the exploration and production of hydrocarbons. Such measures included the introduction of a system of regulated prices and the prohibition of exports until domestic demand had been satisfied. Following these changes, oil and gas production and exports declined and Argentina has subsequently had to manage a reduction in its energy self-sufficiency as fuel imports have increased. Following...

One Further Step Towards UK Shale: Government Provides Underground Drilling Access for Developers

In June this year we reported on the opening of the UK Government's public consultation concerning its proposal for changes to the laws concerning underground drilling access in connection with projects involving shale drilling and fracking, as well as geothermal energy extraction. The existing UK legal framework dictates that mineral rights to petroleum belong to the Crown, with the Government issuing licences to operators to permit them to exploit those petroleum rights. However, subject to those mineral rights in favour of the Crown, owners of freehold land have rights over their land both...

Unlocking the Potential of Shale Gas in the UK Energy Mix

December 27, 2013

The UK is continuing to edge closer to realising the potential of its domestic shale gas resources. In mid-December 2013, the UK government published a report, known as the Strategic Environmental Assessment for Further Onshore Oil and Gas Licensing (the " SEA "), as part of the UK's procedure for assessing the environmental effects of future onshore oil and gas licensing. The SEA was commissioned by the UK government and carried out in preparation for the next licensing round for onshore oil and gas exploration and production (being the 14 th such round) in the UK under a " Draft Licensing...