Dr. Ayodele Oni has released new books –
“Understanding Petroleum (Oil & Gas) Transactions and
the Nigerian Market” and “the Nigerian
Electricity Market: Understanding the Transactional Legal and
Policy Issues”.
![image](/2020/10/lawreport.jpg")
The two books bring to fore Dr. Ayodele Oni’s over 15 years of
experience, advising on both big tickets and small-cap deals.
![image](/2020/10/NWLRland.jpg")
The two books thoroughly avails the readers; Investors, Business
executives, lawyers etc , practical and hands-on insights about
tropical issues such as deals structuring, due diligence,
sub-franchising, financing models, acquisition and resolutions of
energy related disputes.
The
Nigerian Electricity Market: Understanding the Transactional Legal
and Policy Issues”.
The book details practical insights from my over fifteen (15)
years, advising on both big ticket and smaller cap transactions.
The book also highlights my experience advising Development
Financial Institutions (including the World Bank), other
financiers, Regulators, Project Promoters, State Governments and
investors. Further, it covers key practical issues on conducting
due diligence exercises and writing related reports which,
together, form a germane part of any significant acquisition or
divestment transaction.
The book also covers transactional and regulatory issues in
acquisitions. Further, it reviews financing methods for the power
sector and analyzes issues such as sovereign immunity and
highlights issues in the Azura independent power project.
Additionally, the book reviews issues related to the most recent
rules, regulations and policies connected with the electric power
sector. Some of these are service reflectivity, remittance
obligations, sub-franchising, capped invoicing and billing, new
payment methods and the roles played by the Central Bank of
Nigeria, to improve liquidity in the sector.
Disputes are a part of any economic activity, especially where
same is undergoing reforms. It does, then make sense to plan for
and resolve same timeously, fairly and efficiently, as efficient
and fair dispute resolution is key to investors and in this regard,
the book takes a look at how to plan for and resolve energy sector
disputes and thoroughly analyzes Bilateral Investment Treaties and
Section 26 of the NIPC Act & 12 of the Constitution. With concerns
around municipal dispute resolution mechanisms and insufficient
confidence in Nigerian courts, the book reviews international law
principles and concepts such as the umbrella clause in dispute
management and how to internationalize power sector related
contracts/ documentation and transactions. This is especially where
it involves international investors.
For the lawyer, negotiator, commercial person or advisor, the
book covers several practical and other issues they would find
useful in practice, negotiations and transactions. The electric
power sector being a regulated one, the book highlights the legal
and regulatory regime. There is also, indeed, a chapter that
provides insights on negotiating and or reviewing and drafting
power sector transactional documents. As mentioned above, the book
covers the latest developments in law and policy relating to
electricity. Importantly, the book analyzes the use of new
technology, espailly blockchain, in the electric power sector,
especially as regards billing and electricity trading and reviews
the retrofitting required in the electricity market arrangement in
Nigeria, for blockchain to work. Furthermore, for the discerning
business person, the book gives an insight into the business
opportunities in the power sector and how to take advantage and or
invest by providing an investors’ guide. Finally, the book provides
practical insights to policy makers, the regulators, researchers
and students, on how to improve the different segments of the
electric power sector.
Understanding
Petroleum (Oil & Gas) Transactions and the Nigerian Market- About
the Book
This book is founded, largely, upon the author’s over fifteen
(15) years of experience, advising on both big ticket and smaller
cap deals in the oil and gas industry. The oil and gas industry in
Nigeria has been busy in the last two (2) decades, especially with
the advent of democratic rule in the year 1999 which substantially
improved investor confidence. Between the year 1999 and now, a
number of the international oil companies, such as shell petroleum
development company and Chevron, have divested some of their
interests, particularly in onshore acreages. Many of the new owners
of these acreages are local juniors who are now in joint venture
with national oil company of Nigeria- Nigerian National Petroleum
Corporation (“NNPC”), under a new
construct- Asset Management Teams. There have also been marginal
fields bid rounds, last of which took place in the year 2020.
Luckily, the author of this book has actively advised on different
aspects of the above-mentioned divestment and marginal fields
transactions. He has, thus, highlighted in this book, some of the
key issues and take-aways from those.
The last twenty (20) years have also ushered in changes, in the
oil and gas industry with new policies such as those related to
local content and domestic gas supply obligations. The predominant
structure of financing by NNPC has changed to the forward sale type
financing structure, first utilized in the financing of the Oso
Condensate Project and since then there have been other significant
financing modes including NNPC/Chevron Project Cheetah and the big
ticket Ajaokuta Kaduna Kano Pipeline Project. Luckily, the author
has been involved in many of these financings and has had
first-hand experience advising either the NNPC or its counterparty
on issues such as the World Bank Negative Pledge, federation
account, waiver of sovereign immunity and the controversies
surrounding same.
For a long time too, there have been discussions around changing
the legal and regulatory regime of the oil and gas industry, from
the Petroleum Act which is a 1969 legislation, to another, via the
introduction of the Petroleum Industry Bill (the
“PIB”) nearly fifteen (15) years ago.
This book highlights some key provisions of the latest version of
the PIB. Further, the book contains a thorough analysis of
transactional issues such as the why and how of due diligence
exercises and reports. Due diligence exercises and reports are very
important aspect of any significant transaction. Hence, this book,
being one that traverses transactional issues, does a great job by
providing insights into the topic of due diligence, from a more
practical, than theoretical, point of view. It also highlights the
latest legal and regulatory developments, such as the newly issued
Nigerian Gas Transportation Network Code, which the author also
played a meaningful role in bringing to life. Other recent changes
highlighted include the enactment of the Deep Offshore and Inland
Basin Production Sharing Contracts (Amendment) Act which changes
the fiscal regime of Production Sharing Contracts and the Finance
Act, which now makes dividends payable by upstream companies
subject to taxation with the repeal of section 6 of the Petroleum
Profits Tax Act. Regarding financing, a creative mode of
financing was also developed for the financing of Nigerian LNG
Train-7. This book does highlight that creative financing mode.
Apart from the foregoing, the book analyses host government
contracts, transactional and regulatory issues in upstream
acquisition-type deals, takes a comprehensive look at the
downstream petroleum sector and highlights the issues, looks at the
marginal fields regime and practical issues faced by the holders of
marginal fields. The book also takes a critical look at refineries
and refining and looks at the role of modular refineries and why
modular refineries may not necessarily improve the availability of
premium motor spirit/ gasoline, colloquially referred to as
‘petrol’.
The book recognizes that, as far the oil and gas sector is
concerned, foreign investors will always play a role and
consequently looks at how to give such investors comfort that they
are able to go to international arbitration or in some cases, rely
on bilateral investment treaties, their home countries may have
signed with Nigeria. It is, in fact, not just the case that they
can go to international arbitration, arbitral awards are
enforceable in Nigeria and this is crucial because as Frank
Alexander, an international energy law veteran, put it succinctly,
“enforceable international arbitration is one of the pillars of the
three pillars of security of investment under PSCs and other host
government contracts”. Finally, the book looks at energy
transition, especially from a Nigerian perspective.
Payments are to be made to: Ayodele oni – stanbic Ibtc
bank – 022124770
Foreign orders – PayPal (ayodele.
Oni@bloomfield-law.com)
For further enquiries contact: +2348052362430
( WhatsApp only)
The author, Ayodele is currently a partner at Bloomfield Law
Practice who specializes in the provision of commercial legal
solutions across several different fields and industries throughout
West Africa. He has a deep intuition and unwavering flair for
navigating the rudiments of complicated negotiations and
multi-layered transactions, and is able to bring his practical
knowledge and insight of experience in providing practical and
contemporary solutions to these legal conundrums, taking into
consideration the need for speed, efficiency, excellence and
practical 21st century commercial realities.
His experience includes financial services, fintech, energy and
natural resources, mining and minerals, oil and gas, power and
renewables, real estate and telecommunications. Ayodele has been
instrumental to the development of ingenious and effective
strategies for ensuring the success of transactions in which he is
involved. He is an active leading voice and thought leader in the
development of many transformative policy changes in Nigeria,
especially in the Nigerian electric power sector and played a role
in developing some of the template documents used in the electric
power sector.
Dr. Ayodele Oni has released new books –
“Understanding Petroleum (Oil & Gas) Transactions and
the Nigerian Market” and “the Nigerian
Electricity Market: Understanding the Transactional Legal and
Policy Issues”.
The two books bring to fore Dr. Ayodele Oni’s over 15 years of
experience, advising on both big tickets and small-cap deals.
The two books thoroughly avails the readers; Investors, Business
executives, lawyers etc , practical and hands-on insights about
tropical issues such as deals structuring, due diligence,
sub-franchising, financing models, acquisition and resolutions of
energy related disputes.
The
Nigerian Electricity Market: Understanding the Transactional Legal
and Policy Issues”.
The book details practical insights from my over fifteen (15)
years, advising on both big ticket and smaller cap transactions.
The book also highlights my experience advising Development
Financial Institutions (including the World Bank), other
financiers, Regulators, Project Promoters, State Governments and
investors. Further, it covers key practical issues on conducting
due diligence exercises and writing related reports which,
together, form a germane part of any significant acquisition or
divestment transaction.
The book also covers transactional and regulatory issues in
acquisitions. Further, it reviews financing methods for the power
sector and analyzes issues such as sovereign immunity and
highlights issues in the Azura independent power project.
Additionally, the book reviews issues related to the most recent
rules, regulations and policies connected with the electric power
sector. Some of these are service reflectivity, remittance
obligations, sub-franchising, capped invoicing and billing, new
payment methods and the roles played by the Central Bank of
Nigeria, to improve liquidity in the sector.
Disputes are a part of any economic activity, especially where
same is undergoing reforms. It does, then make sense to plan for
and resolve same timeously, fairly and efficiently, as efficient
and fair dispute resolution is key to investors and in this regard,
the book takes a look at how to plan for and resolve energy sector
disputes and thoroughly analyzes Bilateral Investment Treaties and
Section 26 of the NIPC Act & 12 of the Constitution. With concerns
around municipal dispute resolution mechanisms and insufficient
confidence in Nigerian courts, the book reviews international law
principles and concepts such as the umbrella clause in dispute
management and how to internationalize power sector related
contracts/ documentation and transactions. This is especially where
it involves international investors.
For the lawyer, negotiator, commercial person or advisor, the
book covers several practical and other issues they would find
useful in practice, negotiations and transactions. The electric
power sector being a regulated one, the book highlights the legal
and regulatory regime. There is also, indeed, a chapter that
provides insights on negotiating and or reviewing and drafting
power sector transactional documents. As mentioned above, the book
covers the latest developments in law and policy relating to
electricity. Importantly, the book analyzes the use of new
technology, espailly blockchain, in the electric power sector,
especially as regards billing and electricity trading and reviews
the retrofitting required in the electricity market arrangement in
Nigeria, for blockchain to work. Furthermore, for the discerning
business person, the book gives an insight into the business
opportunities in the power sector and how to take advantage and or
invest by providing an investors’ guide. Finally, the book provides
practical insights to policy makers, the regulators, researchers
and students, on how to improve the different segments of the
electric power sector.
Understanding
Petroleum (Oil & Gas) Transactions and the Nigerian Market- About
the Book
This book is founded, largely, upon the author’s over fifteen
(15) years of experience, advising on both big ticket and smaller
cap deals in the oil and gas industry. The oil and gas industry in
Nigeria has been busy in the last two (2) decades, especially with
the advent of democratic rule in the year 1999 which substantially
improved investor confidence. Between the year 1999 and now, a
number of the international oil companies, such as shell petroleum
development company and Chevron, have divested some of their
interests, particularly in onshore acreages. Many of the new owners
of these acreages are local juniors who are now in joint venture
with national oil company of Nigeria- Nigerian National Petroleum
Corporation (“NNPC”), under a new
construct- Asset Management Teams. There have also been marginal
fields bid rounds, last of which took place in the year 2020.
Luckily, the author of this book has actively advised on different
aspects of the above-mentioned divestment and marginal fields
transactions. He has, thus, highlighted in this book, some of the
key issues and take-aways from those.
The last twenty (20) years have also ushered in changes, in the
oil and gas industry with new policies such as those related to
local content and domestic gas supply obligations. The predominant
structure of financing by NNPC has changed to the forward sale type
financing structure, first utilized in the financing of the Oso
Condensate Project and since then there have been other significant
financing modes including NNPC/Chevron Project Cheetah and the big
ticket Ajaokuta Kaduna Kano Pipeline Project. Luckily, the author
has been involved in many of these financings and has had
first-hand experience advising either the NNPC or its counterparty
on issues such as the World Bank Negative Pledge, federation
account, waiver of sovereign immunity and the controversies
surrounding same.
For a long time too, there have been discussions around changing
the legal and regulatory regime of the oil and gas industry, from
the Petroleum Act which is a 1969 legislation, to another, via the
introduction of the Petroleum Industry Bill (the
“PIB”) nearly fifteen (15) years ago.
This book highlights some key provisions of the latest version of
the PIB. Further, the book contains a thorough analysis of
transactional issues such as the why and how of due diligence
exercises and reports. Due diligence exercises and reports are very
important aspect of any significant transaction. Hence, this book,
being one that traverses transactional issues, does a great job by
providing insights into the topic of due diligence, from a more
practical, than theoretical, point of view. It also highlights the
latest legal and regulatory developments, such as the newly issued
Nigerian Gas Transportation Network Code, which the author also
played a meaningful role in bringing to life. Other recent changes
highlighted include the enactment of the Deep Offshore and Inland
Basin Production Sharing Contracts (Amendment) Act which changes
the fiscal regime of Production Sharing Contracts and the Finance
Act, which now makes dividends payable by upstream companies
subject to taxation with the repeal of section 6 of the Petroleum
Profits Tax Act. Regarding financing, a creative mode of
financing was also developed for the financing of Nigerian LNG
Train-7. This book does highlight that creative financing mode.
Apart from the foregoing, the book analyses host government
contracts, transactional and regulatory issues in upstream
acquisition-type deals, takes a comprehensive look at the
downstream petroleum sector and highlights the issues, looks at the
marginal fields regime and practical issues faced by the holders of
marginal fields. The book also takes a critical look at refineries
and refining and looks at the role of modular refineries and why
modular refineries may not necessarily improve the availability of
premium motor spirit/ gasoline, colloquially referred to as
‘petrol’.
The book recognizes that, as far the oil and gas sector is
concerned, foreign investors will always play a role and
consequently looks at how to give such investors comfort that they
are able to go to international arbitration or in some cases, rely
on bilateral investment treaties, their home countries may have
signed with Nigeria. It is, in fact, not just the case that they
can go to international arbitration, arbitral awards are
enforceable in Nigeria and this is crucial because as Frank
Alexander, an international energy law veteran, put it succinctly,
“enforceable international arbitration is one of the pillars of the
three pillars of security of investment under PSCs and other host
government contracts”. Finally, the book looks at energy
transition, especially from a Nigerian perspective.
Payments are to be made to: Ayodele oni – stanbic Ibtc
bank – 022124770
Foreign orders – PayPal (ayodele.
Oni@bloomfield-law.com)
For further enquiries contact: +2348052362430
( WhatsApp only)
The author, Ayodele is currently a partner at Bloomfield Law
Practice who specializes in the provision of commercial legal
solutions across several different fields and industries throughout
West Africa. He has a deep intuition and unwavering flair for
navigating the rudiments of complicated negotiations and
multi-layered transactions, and is able to bring his practical
knowledge and insight of experience in providing practical and
contemporary solutions to these legal conundrums, taking into
consideration the need for speed, efficiency, excellence and
practical 21st century commercial realities.
His experience includes financial services, fintech, energy and
natural resources, mining and minerals, oil and gas, power and
renewables, real estate and telecommunications. Ayodele has been
instrumental to the development of ingenious and effective
strategies for ensuring the success of transactions in which he is
involved. He is an active leading voice and thought leader in the
development of many transformative policy changes in Nigeria,
especially in the Nigerian electric power sector and played a role
in developing some of the template documents used in the electric
power sector.