Linklaters and Clifford Chance (CC) have acted on Ophir Energy's sale of its stake in a Tanzanian oil and gas development to Singapore investment company Temasek. 

Temasek has acquired the 20% stake in the offshore liquefied natural gas (LNG) development from Ophir for $1.3bn (£810m), although the Lakshmi Mittal-controlled company will remain an investor in the joint venture.

Linklaters advised longstanding client Ophir on the deal, led by London-based projects partner Manzer Ijaz and corporate partner Nick Rumsby.

CC acted for Temasek, fielding a team led by Hong Kong banking and finance partner Ashvin Seetulsingh and London energy partner Nick Mace. 

The transaction is expected to complete early next year.

Rumsby said: "We are very pleased to be helping Ophir with this important transaction, which reflects their ongoing success in Tanzania and will provide them with increased financial flexibility to continue their exploration activities in both East and West Africa."

Last year, Linklaters and CC both acted on Temasek's acquisition of shares worth $2.3bn (£1.5bn) in the Industrial and Commercial Bank of China (ICBC) from Goldman Sachs.

The deal saw Temasek buy all of Goldman's H-shares – shares listed on the Hong Kong Stock Exchange – taking its ownership of H-shares to 5.3% and its total stake in ICBC – the world's largest bank by market value – to 1.3%.

Linklaters again acted for Temasek on the transaction, with CC advising Goldman on regulatory matters.