THOMPSON & KNIGHT ASSISTS OIL AND GAS CLIENT IN $850 MILLION DOLLAR ‘DEAL OF THE YEAR’ IN LATIN AMERICA
In this transaction, India’s Oil and Natural Gas Corporation (ONGC) and China Petroleum and Chemical Corporation (Sinopec) purchased 100% of Ominex. This is the first acquisition made jointly by ONGC and Sinopec.
Omimex has oil & gas operations exclusively in Colombia, which include onshore production and exploration areas with gross proved reserves of more than 300 million barrels of oil and current production at approximately 20,000 barrels of oil per day.
“The Thompson & Knight team was instrumental in completing this divestiture in a timely and effective manner,” says Clark P. Storms, General Counsel, Omimex Resources. “Their ability to efficiently analyze and structure the transaction was beneficial to each of the companies involved.”
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