The Team

Gbenga Biobaku


Gbenga Biobaku


Gbenga has almost 3 decades of experience in Corporate/Commercial Law practice predominantly in the oil and gas industry. Previously at Jackson, Etti & Edu, where he was the head of the Energy & Corporate Department for over 5 years, Gbenga’s areas of expertise include oil and gas, foreign investments, joint ventures, acquisitions and disposals, corporate restructuring and project development & finance. Prior to joining Jackson, Etti & Edu, he was a member of the Energy & Corporate/Commercial Practice group at Irving and Bonnar, Nigeria’s oldest (and at one time most prestigious law firm). Whilst at Irving & Bonnar, Gbenga worked on a variety of energy, corporate and commercial transactions for both domestic and international clients.

Gbenga has been involved in the negotiation of various types of oil and gas contracts including several Production Sharing Contracts (PSCs) and has acted for investors, financiers, operators and contractors on a variety of oil and gas transactions. He was part of the team of lawyers that advised Mobil on the Oso-NGL Field Development Project and the principal Solicitor that acted for Mobil in the Oso-NGL I Project, which at that time, was the largest privately funded project finance arrangement in West Africa. Gbenga also advised one of the participants on the unitization of one of the biggest oil fields in West Africa.


  • University of Ife (LLB); 1986
  • The Nigerian Law School; 1987


  • Oil & Gas and Energy
  • Project Development & Finance
  • Acquisitions, Mergers & Disposals
  • Foreign Investments
  • General Corporate/Commercial Law


  • Nigerian Bar Association Section on Business Law
  • Energy & Natural Resources Section (SERL) of the International Bar Association
  • Association of International Petroleum Negotiators("AIPN")
  • Institute Of Directors Nigeria
  • Business Recovery & Insolvency Practitioners Association of Nigeria
  • Energy Institute
  • Nigerian Gas Association

Select Experiences

Advised on the $785 Million Oso Field Development Project jointly owned by Mobil Producing Nigeria Unlimited and the Nigerian National Petroleum Corporation (NNPC), and partly financed by equity from the sponsors, and debt capital from international institutions, such as, the World Bank, International Finance Corporation (IFC), US Export-Import Bank, Japan Export-Import Bank and the European Investment Bank.

Advised and negotiated the project financing, documentation and designing of the investment vehicle of the US$810million Oso-NGL Project, a gas utilisation project, which was sequel to the Oso-Field Development Project, and partly financed by equity from the sponsors and debt capital by a number of institutional investors in the United States and Europe.

Advised the Norwegian Exploration & Production Company, Statoil, in respect of several Production Sharing Contracts with the Nigerian National Petroleum Corporation (NNPC), and assisted with the negotiation.

Advised a multinational exploration and production company in relation to a proposed floating LNG Project in the Niger-Delta region of Nigeria.

Advised an international oil company in its bid for an oil block in the Nigeria/Sao Tome and Principe JDZ 2003 Licensing Round and conducted a detailed analysis of the Treaty and the petroleum, fiscal and contractual regime.

Advised Sonatrach, the Algerian state oil company in connection with its bid for an oil block in the 2005 Licensing Round and provided advice on the bidding regulations as well as detailed analysis of the petroleum, fiscal and contractual regime.

In collaboration with lawyers in a UK law firm, acted for and advised a group of International Banks on aspects of the financing of the Eleme Petrochemical Plant.

Advised and assisted Consolidated Petroleum PTY, a South African Company on the farm-in arrangements into a marginal field including the drafting and review of the transaction documents including the Purchase Agreement, Farm-in Agreement, Joint Operating Agreement and the Deed of Assignment.

Advised African Capital Alliance, a leading private equity firm in Nigeria in connection with the acquisition and financing of an interest in a gas processing plant involving a combination of equity and mezzanine finance in the sum of USD64million and reviewed and advised on the various Gas Agreements and the EPC contract.

Advised on several acquisitions and mergers, involving oil service companies, including the acquisition by Baker Hughes of a minority interest in a Nigerian Oil Service Company.

Advised Skye Bank Plc. in relation to a USD75million syndicated petroleum products receivables pre-financing facility.

Advised TABA Nigeria Limited in respect of an Engineering Procurement and Construction (“EPC”) contract with NNPC relating to a power plant and advised and assisted with the structuring and documentation of the various subcontracting and the financing arrangements.

Advised Skye Bank Plc. in connection with the negotiation of a trade finance facility from African Export – Import Bank (“Afrexim”).