Energy and Oil Sector
Our experience in the energy and oil sector was extended in year 2000 when we implemented the first project finance transaction for IFC in Syria for the largest petrochemical plant in the Middle East for a loan of $13.4 million USD.
The firm has developed its expertise, working with clients in the oil and energy sector and in other natural resources sector on a broad range of matters, including asset acquisitions and dispositions, project financing, operating agreements, regulatory issues, joint venture and participation transactions, general commercial advice, including opinions and interpretation of contracts and contracts drafting, resolution of corporate governance issues and providing independent counsel to Boards of Directors and dispute resolution and litigation of every description. In addition to our known experience in the banking and project finance sector we advised on the acquisition of VEBA oil in relation to the assets of VEBA oil in Syria, we also advised ConocoPhillips, Conoco Syria DEZ Gaz in various legal matter on their contractual obligations with the Syrian Government as well as ONGC Videsh Ltd and TOTAL.
- Local Legal Counsel in collaboration with the IFC on the first IPP project in Syria tendered by the Public Establishment for Electricity Generation and Transmission in Syria for the design, financing, construction, operation and maintenance of a new 250MW power plant at the Al-Nasserieh power complex in Syria. The private sector participation in this Project would be through an Independent Power Producer (IPP) approach, which is the first of its kind in the Syrian Electricity Sector.
- In the power generation sector, we also worked on a Power Purchase Agreement for a clean energy project in initiated by the Syrian Ministry of Electricity, which eventually adopted the World Bank model contract form. The negotiation did not conclude the signature of the contract due to the government guarantee for the purchase of the power generated from the windmills was not materialized at that time.
- The firm has very good knowledge in Production Sharing Agreement, its application, negotiations, execution and all related financing aspects of such agreement. The firm provided its legal services for one of the largest acquisition in the oil field in 2008, which involved a Canadian Company that had two PSA in Syria.
- We acted for a multi-national Islamic Finance in financing a Gulf Petroleum Contracting for its business operation as a subcontractor in an ongoing PSA in Syria.
- Drafted the procurement agreement for the construction of a power plant in the north east of Syria.
- We advised a multi-national Islamic bank on a Murabaha facility agreement for an oil and wells services company.
- In 2009, we acted on behalf of a Chinese petrochemical company for the acquisition of the operating company in a PSA in Syria.
- We provided legal advice on the PPP framework for clear energy accession by a group of European investors under the Partnership for the Mediterranean.
In our efforts to further build capacity of our team we participated in spring of 2009 in a training course on Draft and Negotiating Commercial Agreements and Contracts in the Oil & Gas Industry organised in Europe.