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:

  • a US leading oilfield services group re issuance of operating license, operations in Romania;
  • a leading Australian company re farm-in agreements in relation to participations in two offshore Black Sea blocks, and regulatory issues;
  • a US company re regulatory issues, project finance, gas production development, and gas sale agreement;
  • a US company ranked as the third largest producer of natural gas in Romania re the sale of the  Romanian branches and subsidiaries;
  • the leading Russian company re issuance of gas supply license, and gas transmission matters;
  • a US company re gas concession, regulatory issues – Peter Buzescu is a director of the Romanian subsidiary;
  • a US company 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, production enhancement issues;
  • a Canadian company with regard to concession of two offshore blocks in the Economic Exclusive Zone of Black Sea, and related business and regulatory matters;
  • the commodities subsidiary of a global investment bank re quarterly surveys of the gas trading regulatory framework;
  • a UK company with regard to the construction and operation of gas pipelines which link the gas wells to the national gas pipeline network;
  • a US company re taxation of Romanian operations, winding down the Romanian branch;
  • a US company re gas enhancement recovery and rehabilitation of several gas fields, exploration and production issues, concession agreements, protocols for extension of concessions, farm-out 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, gas sale agreements;
  • Notification of the Romanian  Competition Council re the merger of two major US oil and gas companies;
  • a global commodities trader re crude delivery agreements;
  • a UK/Dutch oil and gas company re negotiation of an aviation fuel JV;
  • Notification of the Romanian  Competition Council re the merger of the leading US oil and gas company with another major US oil and gas company;
  • a consortium led by a leading Greek Bank re privatization of state-owned Petrom SA;
  • a major US company, and a Norwegian company re a project regarding the construction and operation of a gas pipeline that would have linked the Romanian gas pipeline network to the Hungarian pipeline network;
  • a leading US company re a gas enhancement recovery project;
  • two French oilfield services companies re regulatory, and commercial issues in connection with oilfield services;
  • a leading US company re building of a gas station network in Romania;
  • the leading Spanish oil and gas company re purchase of Libyan oilfields from Rompetrol;
  • a leading US company re a joint venture with Arpechim Refinery;
  • a leading US company re an exploration and production sharing agreement;
  • a leading Canadian company re bidding for an exploration and production concession, signing and performance of an exploration and production sharing agreement;
  • a leading US company re successful bidding for an exploration and production concession, signing and performance of an exploration and production sharing agreement;
  • a leading US company re bidding for an exploration and production concession;
  • the leading US company re bidding for an exploration and production concession.

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 lobbying 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 a US company 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 a leading US company 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 two leading US companies.
  • Drafting and lobbying on behalf of a leading US company 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, leading US, UK, and Canadian companies.
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