The Association of International Petroleum Negotiators (AIPN) has selected DEA Deutsche Erdoel AG’s acquisition of Sierra Oil & Gas as Deal of the Year. Baker McKenzie advised DEA on the transaction.
AIPN’s Deal of the Year recognizes outstanding and noteworthy M&A transactions from the previous calendar year. As part of the transaction, DEA (now known as Wintershall DEA) was able to add six oil blocks to the four DEA originally owned (along with a block of land production that DEA has in consortium with PEMEX). Among these blocks, DEA acquired a participation interest of 40 percent in the oil field, Zama, which is located within Block 7 off the coast of Tabasco, Mexico. Zama is one of the biggest oil discoveries in shallow waters in the last 20 years worldwide.
"We are very pleased with this recognition, as it is the result of the intense teamwork managed for about a year between Baker McKenzie and DEA. We appreciate the trust that DEA team has placed in us to represent them in this transaction," said Benjamín Torres Barrón, leader of the Energy, Mining and Infrastructure Practice Group in Mexico.
Raymundo Enriquez, Managing Partner of Baker McKenzie in Mexico, said "Since the liberation of the oil sector at the end of 2013, several important transactions have taken place in Mexico. However, the purchase of Sierra's portfolio is considered the most significant.. We are proud to have advised DEA in this capacity."
Baker McKenzie provided comprehensive advice to DEA with a multidisciplinary team from several offices in Mexico, the Netherlands and Canada. The project was led by Benjamín Torres Barrón and the team included Partners Alejandro Pérez-Serrano, Raymundo E. Enriquez, Nancy Hamzo (Toronto) and Kim Tan (Amsterdam) and Associates Carlos Maass, Gerardo Calderón and Jesús Perez Palazuelos, among others.