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Asad Qayyum

MANAGING PARTNER

Tel No: +968 7918 1818

Email: [email protected]

Asad is a highly skilled dual qualified corporate and commercial lawyer with extensive multi-jurisdiction experience in a number of sectors of the law, including in relation to capital market, funds, conventional and Islamic finance, M&A, natural resources (oil, gas and mining) and project finance transactions.

Asad is qualified as a Solicitor of the Senior Courts of England & Wales, Barrister of England & Wales and an Advocate of the High Courts of Pakistan and has over 22 years of experience advising on a broad range of transactions during his time in the United Kingdom, Sultanate of Oman and Pakistan. Asad has particular expertise in advising sovereigns and sovereign-owned companies and listed and private companies with respect to their debt and equity capital market financings (conventional and Islamic), registration of funds (including real estate investment funds, acquisitions and disposals of hydrocarbon assets (onshore and offshore) and negotiating clients’ commercial (oil and gas) contracts across the globe (including in the United Kingdom, Oman, Canada, Middle East, Pakistan, Cameroon, Tanzania, Namibia, Burundi, Benin, Cameroon, Nigeria and Kazakhstan).

Recent Transactions Advised on in Oman​

  • Advising Meethaq Islamic Banking (Bank Muscat) on a number of matters including facilities granted to corporate entities in the aviation, education, natural resources, real estate, defence, leisure and hospitality and food sectors in aggregate amounts of over USD 500 million. The advice included structuring of transactions in the form of diminishing musharakah, ijarah muntahiya bi tamleek, Murabaha, mudarabah, wakala, istisna’a and salam.

  • Advising Bank Nizwa S.A.O.G. and Alizz Islamic Bank on their proposed financing of a mining company in Oman with an aggregate facility amount of R.O. 60 million.

  • Advised Meethaq Islamic Banking (Bank Muscat) on the proposed establishment of shariah-compliant real estate investment trusts in Oman.

  • Advising a number of international investors on establishment of shariah-compliant real estate investment trusts (REITs) in Oman.

  • Reviewing diminishing musharakah and murabahah suite of documents for Alizz Islamic Bank for and on behalf of Blue Waters LLC (a subsidiary of Oman Aquaculture Development Company) and advising the client on its OMR 7.8 million Shariah-compliant financing.

  • Advising Muzn Islamic Banking (National Bank of Oman) on a number of Islamic finance facilities, including wakala, diminishing musharaka and ijara facilities.

  • Advising a leading bank in Oman in connection with its musharakah transactions involving acquisition and management of commercial properties in Oman.

  • Advising a global asset management business in respect of its ijarah muntahiya bi tamleek facility with a leading Islamic bank.

  • Advising an Islamic bank in respect of its parallel Istisna’a Facility to arrange financing of the development of student housing project.

  • Acting for Meethaq Islamic Bank on an OMR 50 million facility forming a part of a wider existing syndicated conventional facility which had been guaranteed by the Ministry of Finance.

  • Advised on a majority of sukuk issuances undertaken in Sultanate of Oman; further details set out in the Capital Markets transactions below.

  • Advising the Oman Investment Authority (formerly, State General Reserve Fund) and Equitix Investment on establishment of first of its kind US$2 billion infrastructure fund in the Sultanate of Oman.

  • Advising OQ S.A.O.C. (formerly, Oman Oil SAOC) on the establishment of its GMTN programme and issuance of US$750 notes under Regulation S / Rule 144-A.

  • Advising the Government of Oman on the establishment of its GMTN programme and updates to the same from time to time. Asad has advised the Government of Oman on ALL their bond issuances under the GMTN programme since 2015 in the aggregate amount of over US$20 billion.

  • Advising the Joint Lead Managers on Oman Electricity Transmission Company’s multiple issuance of notes in the aggregate amount of USD 1.1 billion.

  • Advising the Government of Oman on the establishment of its international sukuk issuance programme and updates to the same from time to time. In addition, Asad has advised the Government of Oman on ALL their sukuk issuances under the international sukuk programme since 2015 in the aggregate amount of over US$6 billion.

  • Advising the Government of Oman and the Joint Lead Managers on the Government’s establishment of its debut Omani Rial sukuk issuance program and ALL periodic issuances under the same in the aggregate amount of over USD 1 billion.

  • Advising the Joint Lead Managers on the National Bank of Oman S.A.O.G.’s update to its US$1.5 billion euro medium term note (EMTN) programme and the issuance of US$500 million EMTNs.

  • Advising a leading Islamic bank in connection with its establishment of a sukuk issuance programme which, if approved, will be the first hybrid-structure issuance programme by an Islamic bank in Oman.

  • Advising on the establishment of Islamic Real Estate Investment Trusts (REITs) in Oman following the recent promulgation of the Capital Market Authority’s Real Estate Investment Trust/Fund Regulations.

     

  • Advising a Dubai-based investment manager on its acquisition of real estate assets in the aggregate amount of over USD 600 million.

  • Advising Total Group in relation to its corporate restructuring in Oman and various projects being undertaken by it in the oil & gas sector in Oman.

  • Advising Industrialization & Energy Services Company (TAQA) in connection with its proposed acquisition of 100% of the share capital of Weatherford Drilling International and its subsidiaries and affiliates from the Weatherford Group.

  • Advising Al Hassan Group of companies on its sale of a majority stake in Asian Paints LLC in the Sultanate of Oman.

  • Advising PTTEP on its acquisition of a 20 per cent. multi-billion USD stake in Block 61 Oman from BP.

  • Advised Oman Gas Company S.A.O.C. in connection with all aspects of the development of its liquefied natural gas extraction project in Salalah, Oman.

  • Advising Mubadarah Investment LLC and the principal shareholders of Gulf Energy SAOC on their sale of 26% of the share capital to SV3 Holding Pte. Ltd which involved combination of the target company with a special purpose acquisition company (SPAC) being listed on the NASDAQ.

  • Advising an international oil explorer and producer on its acquisition of a majority stake in a company holding 50 per cent. interest in an EPSA entered into with the Government of Oman.

  • Advising Qatar Petroleum on its acquisition of interest in Oman’s off-shore oil and gas Block 52.

  • Advising the Hungarian multinational oil and gas company, MOL (Hungary), Kuwait Foreign Petroleum Exploration Company K.S.C. (KUFPEC), Oil and Gas Natural Gas Corporation (ONGC), and GS Energy on their proposed multibillion dollar acquisition of a 10 per cent. interest in Oman’s Block 61 gas field.

  • Advising a leading state owned company in connection with the design, construction and operation of their natural resources extraction facility.

  • Advised Daqing Oilfield Company (China) on its acquisition of interest in Oman’s oil blocks indirectly through acquisition of the entity that ultimately held the interest including advising on the structuring of the transaction and the hydrocarbon exploration and production regimes in Oman.

  • Advised Occidental Oil and Gas International LLC (Oxy) on its proposed acquisition of interest in Oman’s oil block 53 indirectly through acquisition of the entity that held the interest.

  • Advised Izdihar Real Estate Fund on the acquisition of real estate (a mix of residential apartments and commercial units) in Muscat, Oman.

  • Advised and represented a top tier international firm on enforceability of a foreign arbitral award in the Sultanate of Oman.

  • Advised a private conglomerate on a multimillion dollar international arbitration relating to recovery of amounts under an infrastructure construction contract.

  • Advised a global TV broadcaster on its US$650 million arbitration dispute against a state owned entity relating to television rights.

  • Lead counsel in an ICC arbitration for a construction company claiming US$223 million against the main contractor.

  • Represented a leading construction company in its claim against the main contractor for release of payments. The work included getting interim relief from the Omani courts and thereafter pursuing the matter before the arbitration tribunal under LCIA Rules.

  • Ranked as a Highly Regarded Lawyer by IFLR 1000 for 2018, 2019, 2020, and 2021
  • Ranked as Next Generation Partner by Legal 500 for 2020 and 2021
  • Ranked as Highly Recommended by Chambers & Partners for 2020 and 2021
  • Testimonials:
    1. “well regarded for his experience in debt capital markets with particular skills in sukuk, Islamic finance and oil and gas sectors”…”also well equipped to advise on investment fund mandates” – Chambers & Partners, 2021
    2. “he’s been excellent, extremely responsive, very knowledgeable, practical and very team oriented” – Chambers & Partners, 2021
    3. “Qayyum is praised for his strong grasp of the legal and commercial aspects of the industry” – Legal 500, 2021
    4. “he is prompt and accurate”…”true professional who provides sound advice for all complex matters”…”he values client relationships and has delivered excellent quality on time, every time” – IFLR 1000, 2020
    5. “seasoned in energy matters, particularly in the oil and gas sector. He has assisted with acquisitions, joint ventures and corporate restructurings. Sources describe him as very strong and a popular name in the market” – Chambers & Partners, 2020
    6. Next Generation Partner and “very strong in debt capital markets” – Legal 500, 2020
    7. “Rising Star, approachable, knowledgable and always available with smart and reliable advice”…”he is professionally excellent and personally a fine gentleman” – IFLR 1000, 2019
    8. “Excellent. Very experience and knowledgable” – IFLR 1000, 2019
  • Oman author of Lexology Navigator: Oil & Gas 2019 and 2020 editions.
  • Oman co-author of Lexology: Gas Regulation 2019 and 2020 editions.
  • Co-author of the Oman edition of The Islamic Finance and Markets Review - Edition 4 and Edition 5 by the Law Reviews.
  • Author of the Oman section of the Fintech Review published by Clifford Chance in 2018.
  • Appointed as Oman Correspondent for Islamic Finance News and contributed regular articles to the Islamic Finance News global publications (2018 to 2021).
  • Submission of various Islamic Finance practice notes for Lexis Nexis.
  • Author of the Pakistani chapter of a book on International Commercial Arbitrations in the SAARC countries.
  • Author of the Aviation, Finance and Leasing edition of Getting the Deal Through, 2015 edition.
  • Law Society of England and Wales

  • Bar Council of England and Wales

  • Lahore High Court Bar Association

  • Punjab Bar Council

  • Lahore Tax Bar Association

  • Association of International Petroleum Negotiators