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Onslow Marine Support Base advised on first NAIF-funded project
Herbert Smith Freehills has advised the Onslow Marine Support Base in the nation's first Northern Australia Infrastructure Facility-funded project.
Emma Musgrave
Firm: Herbert Smith Freehills (Onslow Marine Support Base Pty Ltd)
Value: Undisclosed
Area: Finance
Key players: The Herbert Smith Freehills team was led by partner Andrew McLean, with support from senior associate Owen Alcorn.
Herbert Smith Freehills also advised OMSB on its construction and operation contracts and land tenure, led by partner David Hugo with support from senior associate Katie Brennan.
Deal significance: Under the transaction, NAIF provided a subordinated concessional loan to OMSB to facilitate the construction of a multi-user infrastructure port and marine supply project at Onslow in Western Australia, according to a statement from Herbert Smith Freehills. National Australia Bank Limited was the senior lender on the project, the firm noted.
“Once complete, the project will be offered as an alternative to facilities at Dampier and Exmouth in the north-west of Western Australia, providing cost-saving proximity to offshore oil and gas fields in the northern Carnarvon Basin,” the firm's statement said.
“It's 204m laydown area means that all four oil and gas majors will be able to use the facility at the same time.”
Commenting further on the deal, Herbert Smith Freehills partner Andrew McLean said: “It’s a credit to the vision and hard work of the OMSB team that they have been able to design and progress such an important infrastructure asset for Western Australia, and for the oil and gas industry participants in the region.”
“The team at OMSB has worked tirelessly to reach financial close on the first NAIF financing. It was a pleasure to work with them and to be involved on the transaction, and to work alongside the NAIF and NAB teams to achieve this result,” he added.
Emma Musgrave
Emma Musgrave (née Ryan) is the managing editor, professional services at Momentum Media.
Emma has worked for Momentum Media since 2015, including five years spent as the editor of the company's legal brand - Lawyers Weekly. Throughout her time at Momentum, she has been responsible for breaking some of the biggest stories in corporate Australia. In addition, she has produced exclusive multimedia and event content related to the company's respective brands and audiences.
Prior to joining Momentum Media, Emma worked in breakfast radio, delivering news to the Central West region of NSW, before taking on a radio journalist role at Southern Cross Austereo, based in Townsville, North Queensland.
She holds a Bachelor of Communications (Journalism) degree from Charles Sturt University.
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