Ashurst is advising Dyas UK Limited in relation to its acquisition of a ten per cent interest in the Catcher oil and gas assets in the UK North Sea from UK listed Cairn Energy. The acquisition has an effective date of 1 January 2014, and Dyas is paying for the asset by funding Cairn's exploration and development costs in respect of the licences up to a cap of US$182m.

The Ashurst team was led by corporate partner Nick Williamson, assisted by senior associate Julia Derrick and associate Hugh Nolan. Tokyo partner Myles Mantle and counsel Matthew Rickards assisted with due diligence.

The transaction is subject to usual regulatory and third party approvals.