02 07 2015

Dalma Energy obtains a US$77.5 million syndicated

Dentons advised Bank Sohar as agent bank on a US$77.5 million syndicated facility to Dalma Energy International. Both Bank Sohar and Qatar National Bank (QNB), Oman Branch were lenders to Dalma on this transaction.


The financing package involved both term loan facilities and custom bond guarantee facilities to assist in the purchase of three state-of-the-art oil rigs from Kerui Petroleum Equipment Co Limited based in China. The rigs will ultimately be in operation for use on a Saudi Aramco project. This is another significant financing for the Dalma Energy Group, one of the largest land drilling rig owner and operators in the Middle East and North Africa, and will assist in expanding the capacity of the oil and gas sector in Oman and across the region. The Dentons Muscat team was led by Partner Sadaf Buchanan (picture) working with Associates Ahmed Choudhry, Fatma Al Rashdi and Senior Associate Justine Harding. Riyadh based Partner Amgad Husein and Associate Jonathan Burns provided all Saudi law expertise and UAE law advice was led by Partner Udayan Mukherjee. Involved fees earner: Sadaf Buchanan - Dentons; Ahmed Choudhry - Dentons; Fatma Al Rashdi - Dentons; Justine Harding - Dentons; Amgad Husein - Dentons; Jonathan Burns - Dentons; Udayan Mukherjee - Dentons;

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