Ashurst has advised Mitsui on an agreement with Total for the purchase of a 25 percent non-operated participating interest in the Tempa Rossa onshore oil field from Total.

The completion of the transaction is subject to certain conditions including regulatory approval from the Italian government.

The acquisition will be Mitsui's first entry into oil and gas assets in Italy and follows on from its acquisition of a non-operated interest in the Alba and Britannia fields in the UK North Sea which Ashurst also advised on.

The Ashurst team was led by London energy partner Peter Roberts with support from partner Nicolas Bonnefoy and associate Tom Saint, and assistance from partner Carloandrea Meacci, senior associates Annamaria Pinzuti and Shan Koh, and avvocato Elena Macchi.

Commenting on the deal, Peter Roberts said:

"We are delighted to be working with Mitsui again as they continue to pursue their strategy of acquiring oil and gas assets in Europe. The Tempa Rossa interest will become a core asset in Mitsui's energy business in the region and we look forward to working with Mitsui and Total to complete the transaction."

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