Casablanca—Dentons Morocco has advised Cepsa, Spain's leading energy company, on the development of its business in Morocco. Cepsa intends to develop an integrated downstream business in North Morocco by creating a joint venture with Derhem Holding.

Through this joint venture, Cepsa plans to reach an objective of 100 points of sale within five years and a 15 per cent market share in the medium-term (based on number of service stations) as well as securing product supply. This will be the first time that Cepsa moves beyond the Iberian Peninsula, besides the Canary Islands, as part of its expansion strategy.

Cepsa is a leading energy company in Spain and a global, integrated company operating across the entire oil and gas value chain with over 90 years of experience. It is present across five continents.

The team in Dentons Casablanca advising Cepsa was led by managing partner Patrick Larrivé, of counsel Benoit de Monval and senior associate Zakia Jabri-Abbadi.