H & Cía counsels on acquisition of Cepsa Peru in favour of PetroTal

Hernández & Cía has locally counselled Cepsa on the sale to PetroTal of 100% of its oil exploitation business in Peru, focused on Block 131.

The transaction also involved international legal advice to Cepsa from Latham & Watkins; while PetroTal, a leading Canadian energy company, was advised internationally by Stikeman Elliott LLP.

With this divestment transaction, Cepsa divests its latest investment in Peru, as part of its ‘Positive Motion’ strategy, whose objective is the energy transition by promoting its global investments in renewable energy projects.

For its part, PetroTal is increasing its participation in the Peruvian hydrocarbons market, where it has been developing exploration activities in Block 107 since 2017, as well as exploitation activities in Block 95.

H & Cía’s team included partners José Manuel Abastos (pictured left), Brendan Oviedo Doyle (pictured centre) and Sandro Cogorno (pictured right), principal associate Gloria Zubizarreta and senior associate Katherine Yesquen.

Latham & Watkins’ team, through its London office, comprised partner Simon Tysoe and associate Aslihan Alparslan.