Aramco refinery at Ras Tannura, Saudi Arabia. (AP Photo)
Aramco refinery at Ras Tannura, Saudi Arabia. (AP Photo) (Anonymous)

White & Case and Shearman & Sterling are assuming the lead roles on a $7 billion investment by state-owned Saudi Arabian Oil Co., known as Saudi Aramco, into its Malaysian counterpart Petroliam Nasional Bhd., or Petronas.

In a deal signed in February during Saudi Arabian King Salman Bin Abdulaziz Al Saud’s state visit to Malaysia, Saudi Aramco agreed to buy a 50 percent stake in a joint venture with Petronas to build a refinery and petrochemical project in southern Malaysia’s Johor state.

The project, which is scheduled for completion in 2019, will become one of the largest refinery and petrochemical projects in Asia with a capacity of 300,000 barrels per day. The project is also part of a 22,000-acre integrated petroleum development in Johor, which borders Singapore.

Advising Saudi Aramco is a White & Case team led by projects partners Steve Payne in Singapore and Michael Watson in Abu Dhabi. They are supported by projects partners Luke Robottom in Abu Dhabi and Paul Harrison in Tokyo, corporate partner Wendell Maddrey and intellectual property partner Jean Shimotake in New York, and competition law partner Pontus Lindfelt in Brussels.

Last year, sibling publication Legal Week reported that White & Case had been advising Saudi Aramco informally on a potential initial public offering that could raise between $100 billion and $150 billion. In February, citing unnamed sources, Reuters reported that the New York firm has been appointed counsel for Saudi Aramco’s planned debut in 2018. In a press release for the Petronas deal, White & Case said it had advised Saudi Aramco and its predecessor Arabian American Oil Co. for more than 50 years.

Shearman & Sterling is advising long-time client Petronas on the deal. The team is co-led by Singapore managing partner William McCormack, who has been advising the Malaysian oil company on the Johor refinery and petrochemical project since 2012, and Singapore projects partner Anthony Patten, who oversees the details of the Saudi Aramco deal. Patten is supported by Singapore M&A partner Sidharth Bhasin. Other members of the Shearman team include projects partners Ben Shorten in Singapore and Iain Elder in London and international arbitration partner Daryl Chew in Singapore.

White & Case and Shearman & Sterling are assuming the lead roles on a $7 billion investment by state-owned Saudi Arabian Oil Co., known as Saudi Aramco, into its Malaysian counterpart Petroliam Nasional Bhd., or Petronas.

In a deal signed in February during Saudi Arabian King Salman Bin Abdulaziz Al Saud’s state visit to Malaysia, Saudi Aramco agreed to buy a 50 percent stake in a joint venture with Petronas to build a refinery and petrochemical project in southern Malaysia’s Johor state.

The project, which is scheduled for completion in 2019, will become one of the largest refinery and petrochemical projects in Asia with a capacity of 300,000 barrels per day. The project is also part of a 22,000-acre integrated petroleum development in Johor, which borders Singapore.

Advising Saudi Aramco is a White & Case team led by projects partners Steve Payne in Singapore and Michael Watson in Abu Dhabi. They are supported by projects partners Luke Robottom in Abu Dhabi and Paul Harrison in Tokyo, corporate partner Wendell Maddrey and intellectual property partner Jean Shimotake in New York , and competition law partner Pontus Lindfelt in Brussels.

Last year, sibling publication Legal Week reported that White & Case had been advising Saudi Aramco informally on a potential initial public offering that could raise between $100 billion and $150 billion. In February, citing unnamed sources, Reuters reported that the New York firm has been appointed counsel for Saudi Aramco’s planned debut in 2018. In a press release for the Petronas deal, White & Case said it had advised Saudi Aramco and its predecessor Arabian American Oil Co. for more than 50 years.

Shearman & Sterling is advising long-time client Petronas on the deal. The team is co-led by Singapore managing partner William McCormack, who has been advising the Malaysian oil company on the Johor refinery and petrochemical project since 2012, and Singapore projects partner Anthony Patten, who oversees the details of the Saudi Aramco deal. Patten is supported by Singapore M&A partner Sidharth Bhasin. Other members of the Shearman team include projects partners Ben Shorten in Singapore and Iain Elder in London and international arbitration partner Daryl Chew in Singapore.