We are pleased to have advised Shell Western Supply and Trading Limited on a financing package advanced to Emadeb Energy Services Limited for the purpose of supporting the development of the Ibom Field within Petroleum Prospecting Licence 236 in Nigeria.

The financing comprised complementary facilities, including a prepayment facility provided by Shell Western Supply and Trading Limited against future crude oil deliveries, structured to support the Borrower’s working capital and ongoing field development and a term loan facility and working capital facility provided by a commercial bank in Nigeria.
Shell Western Supply and Trading Limited’s participation as both the prepayment lender and the offtaker form part of the overall financing and offtake structure, supporting the development and monetisation of the underlying assets.

The Ibom Field development, operated by Emadeb Petroleum Exploration and Production Company Limited, forms a critical part of Nigeria’s strategy to grow domestic production capacity through indigenous operators. The financing will support ongoing field operations and a Phase 2 development programme involving the drilling and completion of new production wells and the development of a platform, contributing to Nigeria’s energy security and economic growth objectives.

The team was led by Partner Oludare Senbore, supported by Senior Associate Elijah Joseph and Associates Chigornum Weli-Igwe, Esther Yugbovwre, Oluwaseyi Olayinka and Zainab Hassan.