ADNA, acting as Ivorian law counsel, alongside lead counsel Mayer Brown advised VAALCO Energy (“VAALCO”), an independent energy company, on its acquisition of Svenska Petroleum Exploration (“Svenska”), a Sweden-based offshore oil company, for a net purchase price of $40.2 million in cash. This acquisition strategically enhances VAALCO’s presence in West Africa and unlocks further development opportunities in the region.

VAALCO Energy, Inc. is a Houston, Texas-based independent energy company engaged in the production, development, and acquisition of oil and natural gas properties in West and North Africa and western Canada. VAALCO’s strategy is to increase reserves and production through the development and exploitation of international oil and natural gas properties, with a primary focus on Africa. The Company’s properties are located offshore Gabon and Equatorial Guinea, onshore Egypt, and western Canada and, following the completion of the acquisition, Cote d’Ivoire.

Svenska Petroleum Exploration is a Swedish-based oil and gas company specializing in offshore exploration and production. Activities are presently based in Cote d’Ivoire and Nigeria with its primary asset being a non-operated working interest in a deepwater producing field in offshore Cote d’Ivoire.

The ADNA team was led by Sydney Domoraud and included Aurélien Zeredji, Sigismond Konan and Coralie Saki.