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About Alastair

Alastair Young serves as co-chair of the firm’s oil and gas projects practice group. He is a corporate lawyer who focuses on the energy and natural resources sector. His experience includes UK and international mergers and acquisitions, long-term and high-value contracts, cross-border joint ventures and the development of major energy projects.

Experience

Recent Notable Matters

SPE Guinea Bissau AB (a wholly owned subsidiary of Svenska Petroleum Exploration AB) — agreement to sell participating interests in the Sinapa and Esperança oil and gas licences, offshore Guinea Bissau, to CNOOC

Apache Corporation — sale of multiple UK North Sea upstream oil and gas assets to Chrysaor Limited

Eni S.p.A. — sale of interests in Egypt’s super-giant Zohr field to Rosneft for $1.125 billion and BP for $375 million

Apache Corporation — disposal of its operated interest in the SAGE System, a major gas pipeline system and gas processing terminal in the UK, to Ancala Partners, and on Apache’s associated long-term gas transportation and processing agreement

Apache Corporation — $800 million sale of its oil and gas business in Argentina to YPF S.A.

Apache Corporation — disposal of its interests in the Scott and Telford oil fields in the UK North Sea to Edison

Apache Corporation — acquisition of Mobil North Sea Limited (holding significant UK North Sea assets) from Exxon Mobil for $1.75 billion

BG Group — in relation to its assets in Brazil

EOG Resources, Inc. — in relation to its assets in Trinidad

Sinopec — acquisition of 49 percent of the shares in Talisman Energy (UK) Limited (holding significant UK North Sea assets) for $1.5 billion

TAQA — establishment of the Bergermeer Gas Storage Project in the Netherlands and its strategic partnership agreement with Gazprom, the supplier of supply cushion gas to the project

San Leon Energy plc — £31 million AIM placing and farm-outs in Poland to Talisman and Palomar Natural Resources

OGX — acquisition of upstream oil and gas assets off-shore Brazil from Maersk

Serica Energy — sale to KrisEnergy of a group of its Dutch BV and Singaporean subsidiaries holding upstream oil and gas assets including the Kutai and East Seruway PSCs in Indonesia

Suncor Energy Inc — €445 million sale of its upstream oil and gas business in the Netherlands to Dana Petroleum plc

Administrators of Oilexco North Sea Limited — $505 million sale of the shares in Oilexco to Premier Oil

BP plc — establishment of its joint venture with Rio Tinto for the development of hydrogen power projects around the world

GDF Suez (now Engie) — acquisition of a gas storage project in the UK

Publications and Speeches

“Use it or Lose it,” Petroleum Review, May 2018.

“Penalty Clauses Redefined by the English Courts,” IFLR, January 2016.

“What Constitutes a Reasonable and Prudent Operator?” International Law Office, November 2015.

“Fracking in Europe - EU Parliament Votes to Require Environmental Impact Assessments for Shale Gas Developments,” Oil & Gas Financial Journal, October 2013.

“Backing Fracking: UK Government Lays Out Shale Gas Incentives,” Oil & Gas Financial Journal, September 2013.

Credentials

Education

University of New South Wales, Sydney, Australia,
LL.B.
2003
Australian National University, Canberra, Australia,
B.A.
2000

Bar Admissions

Solicitor of the Senior Courts of England and Wales
Solicitor in New South Wales, Australia

News

News

UK Producers Prepare to Take a Pounding

April 16, 2020
​NGW Magazine

Use it or lose it

May 14, 2018
Petroleum Review

Offshore: Deals and cases

April 27, 2014
thelawyer.com

New York law firm in Africa push via UK

July 1, 2013
Press and Journal (Aberdeen)

A message to you from Rudy

March 5, 2013
Lawyer (Online), The

Insights

Insights

COVID-19 and “Electronic” Execution of English Law Documents

March 19, 2020
Energy Legal Blog®

In light of the on-going Covid-19 pandemic, many organisations are implementing remote working policies and limiting access to offices in order to effect social distancing measures. Notwithstanding the...

New International AIPN Oil and Gas Farm-Out Agreement

June 19, 2019
Energy Legal Blog®

In June 2019, the oil and gas industry body, the Association of International Petroleum Negotiators (AIPN), published a revised version of its model form international farm-out agreement. The publication of this new model form agreement is a reflection of...

UK Government announces major tax cuts for the oil and gas industry

March 16, 2016

UK Government announces major tax cuts for the oil and gas industry Earlier today, the UK government announced its budget for 2016. A copy is available by clicking here. See pages 54 in Chapter 1 and 109 in Chapter 2 in particular for details in relation to the oil and gas industry. The UK government has said that it wants to ensure that the tax regime supports the objective of maximising economic recovery of oil and gas while ensuring a fair return on those resources for the nation. The government has also announced its intention to help to support the industry through the challenging...

What Constitutes a Reasonable and Prudent Operator?

November 13, 2015
Energy Legal Blog®

The English Commercial Court interprets the definition of the standard of a "Reasonable and Prudent Operator" in the context of a dispute relating to long term gas sales agreements The phrase "reasonable and prudent operator" is frequently used in commercial contracts in the oil and gas industry to specify the standard at which a party must...

The UK's New Reporting Obligations on Modern Slavery and Human Trafficking

October 30, 2015

A "Race to The Top" to Tackle an Atrocious Global Problem Introduction Companies or partnerships carrying on business in the UK with an annual turnover of £36 million (around US$55.5 million) or more will now, for the first time, be required to publish an annual statement setting out the steps they have taken to ensure that there is no modern slavery or human trafficking in their own business and their supply chains. This is not sector specific such that only banks or energy companies (for example) are impacted. This is relevant for all companies who fall within these new reporting...

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...

"Friendly Discussions" Obligation is Enforceable Under English law

July 15, 2014

The English High Court has overruled an arbitrators' decision to hold that a clause requiring "friendly discussions" prior to commencing arbitration is an enforceable condition precedent to arbitration under English law. This judgment is interesting because mere "agreements to negotiate" are generally unenforceable under English law because they are too uncertain to enforce (Walford v Miles [1992] 2 AC 128). This case is especially interesting for the energy sector because it deals with the English law interpretation of escalation or multi-tiered dispute resolution clauses that are common...

Investor Challenges Ahead for Junior/Mid-Cap Oil & Gas Companies

June 18, 2013

The harsh reality is during times of market volatility, the old adage "survival of the fittest," applies to all companies, but especially junior/mid-cap oil and gas companies. Unpredictable equity and commodity markets, and lower investor confidence in particular, can make it difficult for junior exploration and production companies to raise capital on the markets, particularly if the company is heavily exposed to development costs and has little to no production revenue. Although, there are still ideal opportunities available for the junior/mid-caps with good acreage in the underexplored...

Noteworthy

Noteworthy

The Legal 500 United Kingdom
Projects, Energy and Natural Resources – Oil & Gas, 2014 - 2018-19
Euromoney Institutional Investor PLC
IFLR1000 Financial & Corporate Guide
United Kingdom, 2017 - 2020
Euromoney Institutional Investor PLC
IFLR1000 Energy & Infrastructure Guide
Latin America, 2015