Marval O’Farrell Mairal advises CGC on the acquisition of Sinopec Argentina

Marval O’Farrell Mairal has counselled Compañía General de Combustibles on the acquisition of oil and gas producer Sinopec Argentina

 Argentinean law firm, Marval O’Farrell Mairal, has advised Compañía General de Combustibles on the acquisition of Sinopec Argentina Exploration and Production, in a transaction closed on 30 June.

Dentons, through its Cayman Islands office, HFW in London and Hong Kong, as well as Lazard, also participated in the transaction as advisors to CGC. Alfaro Abogados, Dechert in Hong Kong and Maples in the Cayman Islands advised Sinopec.

CGC is a company dedicated to the development, production and exploration of hydrocarbons. It is the sixth largest gas producer in Argentina. Sinopec Argentina is the fifth largest oil producer in the country and with its acquisition CGC increases its production to more than 50 000 barrels of oil equivalent per day and its proven oil reserves by more than 50 %.

Hugo Eurnekian, Chairman and CEO of CGC, stressed the importance of this transaction, “as it reaffirms CGC’s vision to continue investing and growing in Argentina […] We are convinced of the enormous and diverse potential offered by the geology of our country, not only in shale but especially in tight and conventional: this step we are taking is proof of that […] We are happy that this new milestone in our growth is taking place in Santa Cruz, a province we feel part of and where CGC has been present for almost 30 years.”

MOFM’s team consisted of partners Francisco A. Macias (pictured left), Diego A. Chighizola (pictured top right) and Maria Macarena Garcia Mirri (pictured bottom right).

Dentons’ team was led by senior corporate counsel Brian J. Patterson.

HFW’s team was led by partners Alex Kyriakoulis from the London office and Patrick Cheung from Hong Kong.

Lazard’s team was led by managing director Santiago Alsina.

Alfaro Abogados’ team was led by partner Sebastián Rodrigo.