ES and HSF advise on $2.6bn Chinese investments in Abu Dhabi oil venture

Eversheds Sutherland (ES) and Herbert Smith Freehills (HSF) have advised two Chinese energy companies on their combined $2.6bn (£2.1bn) investment in a joint venture with state-owned Abu Dhabi National Oil Company (ADNOC).

Abu Dhabi Skyline, United Arab Emirates

In a deal announced on 19 February, state-owned China National Petroleum Corp (CNPC) – one of the three top oil producers in China – agreed to pay $1.76bn (£1.4bn) for an 8% stake in the $22bn (£17.5bn) Abu Dhabi Company for Onshore Petroleum Operations concession.

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