OIL AND GAS

A.        ADVISING INTERNATIONAL OIL AND GAS COMPANIES

We advise on Romanian Petroleum Law, Romanian Gas Law, exploration and production sharing, joint operation, concession, oil and gas transportation, gas station network operation and development, crude delivery agreements, tariff, tax,  and other regulatory issues. We negotiated on behalf of foreign investors the deregulation of the price of “newly” produced domestic gas. We advised on the privatization of state-owned logging and perforation services, and petroleum companies, drafted Petroleum Law, amending legislation, and obtained Opinion Letters issued by Romanian government agencies on issues of interest to foreign investors.

We advised:

• Gazprom Marketing & Trading re gas supply and gas transmission matters;

• Merrill Lynch Commodities (Europe) re quarterly surveys of the gas trading regulatory framework;

• PetroSantander re permitting, attestation by the National Agency for Mineral Resources, and authorization by the National Regulatory Authority for Energy in relation to a Production Enhancement Services Agreement;

• Sterling Resources with regard to concession of two offshore blocks in the Economic Exclusive Zone of Black Sea, and related business and regulatory matters;

• Aurelian Oil & Gas with regard to the construction and operation of gas pipelines which link the gas wells to the national gas pipeline network;

• Forest Oil re taxation of Romanian operations, winding down the Romanian branch, 2006 – 2007;

• Founders and advisor of the Petroleum Exploration and Production Operators’ Association;

• Amromco Energy (USA) re gas enhancement recovery and rehabilitation of several gas fields, exploration and production issues, concession agreements, protocols for extension of concessions, farmout and joint operating agreements, concession assignment agreements, negotiation of land easements in relation to oil and gas operations, business transfer agreement, construction and operation of gas pipelines which link the gas wells to the national gas pipeline network, sale – purchase contracts for natural gas from domestic production, 2002 to present;

• Notification of the merger of Chevron and Texaco to the Romanian Competition Council;

• Glencore re crude delivery agreements;

• Shell re negotiation of an aviation fuel JV, 2000;

• Notification of the merger of Exxon and Mobil Business Resources to the Romanian Competition Council in 1999;

• Piraeus Bank on behalf of Middle East investors re privatization of state-owned Petrom SA;

• Amoco Romania Petroleum Company re a gas enhancement recovery project, 1997 - 1998;

• Amoco Petroleum Products re building of a gasoline distribution network in Romania;

• Repsol Exploracion re purchase of Libyan oilfields from Rompetrol;

• Chevron re joint venture with Arpechim Pitesti;

• ARCO re a petroleum exploration and production sharing agreement;

• Canadian Occidental Petroleum Ltd. re bidding for an exploration and production concession, signing and performance of an exploration and production sharing agreement, 1992 - 1997;

• Amoco Corporation re successful bidding for an exploration and production concession, signing and performance of an exploration and production sharing agreement, 1992 - 1999;

• Marathon Oil re bidding for an exploration and production concession, 1992;

• Exxon Exploration Company re bidding for an exploration and production concession, 1991 - 1992.

B.       DRAFTING AND LOBBYING  FOR ISSUANCE OF ENABLING LEGISLATION

• Advising the Petroleum Exploration and Production Operators’ Association with regard to the draft of the 2006 Petroleum Law.

• Drafting and lobying on behalf of the Petroleum Exploration and Production Operators’ Association for the amendment of the Public Procurement Ordinance no. 60 of 2001.

• Drafting and lobbying on behalf of Amromco re issuance of Order No. 49 of 2003, concerning the pricing of the “new gas” produced in Romania from newly discovered fields or following the rehabilitation of the existing fields by the Ministry of Industry and Resources for the issuance. This new natural gas pricing regulation was regarded as a major step towards liberalization of the natural gas market in Romania.

• Drafting and lobbying on behalf of Amoco re Petroleum Law No. 134 of 1995. We lobbied for provisions in line with the internationally recognized standards  in the oil and gas industry.

• Drafting and lobbying in 1992, in relation with the issuance of the first Opinion Letters by the Ministry of Finance in post-communist Romania, with regard to the tax issues related to the exploration and production sharing agreements with Amoco and ARCO.

• Drafting and lobbying on behalf of Amoco re issuance of Law No. 66 of 1992 Concerning Special Incentives Granted to Foreign Investors Investing in Oil And Gas Exploration and Production in Romania. The issuance of this law made possible the signing in 1992 of the first three petroleum exploration and production sharing agreements between the Romanian Government and, respectively, Amoco, Shell and a consortium including  Enterprise Oil and Canadian Oxy.