Ashurst has advised Oranje-Nassau Energie B.V. ("ONE") on its proposed acquisition of a 50% interest in the Sean field, located in the UK's Southern North Sea, from Shell U.K. Limited and Esso Exploration and Production UK Limited. ONE would also like to seek joint venture approval to take over operatorship of these assets.

Completion of the transaction is subject to approval from the UK regulator and SSE.

The Ashurst team was led by energy partner Geoffrey Picton-Turbervill and senior associate Julia Derrick, and also included tax partner Richard Palmer, senior associates Ruth Buchanan, Tim Gummer and Andy Wright, and associates Fiona Tsung and Hugh Nolan.

Partner Geoffrey Picton-Turbervill commented:

"We are delighted to have advised ONE on this strategically important transaction which sees their entry to the UK market as an offshore operator. ONE is a long standing client for Ashurst and we are very pleased to have worked with them on several recent transactions as part of their growth strategy. We look forward to supporting them on future projects."