Law firms team up for Egyptian energy service
Law firm Andrews Kurth (Middle East) DMCC (Andrews Kurth) is collaborating with Cairo-based Open Chance & Associates to assist companies interested in energy opportunities in Egyptian oil and gas. They are offering a range of services covering domestic Egyptian law and international energy, project development and finance law.
Egypt’s government is implementing a program to develop and diversify the national economy helped by foreign investment and public/private partnerships.
Eni’s 2015 Zohr gas find in the Egyptian Mediterranean Sea is being approved for a fasttrack development with first gas slated for 2017 from up to six wells, with a further 18 wells to follow by 2019.
Another fasttrack project to be approved is the deepwater Atoll tie-in to the West Nile Delta project.
Hugh Fraser, managing partner of Andrews Kurth (Middle East) DMCC, said Egypt represented a major investment opportunity for US and European companies.
“In 2015, we saw a number of major investment announcements relating to Egypt’s oil and gas industry and the government continues to pursue a strategy to incentivize foreign investment as part of its economic development plans spanning natural resources, power generation, and infrastructure development.
“This combination of circumstances means that there are now major supply chain opportunities that are of interest to our clients who are already active in the Middle East and North Africa and which will catalyze market entry work in Egypt.
“Equally, we see significant ability to support operator clients with work in relation to the upstream oil and gas concessions and to work with inward investors involved in the country’s major infrastructure projects.”
Mark Thurber, a Houston-based partner with Andrews Kurth LLP, said: “Egypt is deploying various legal and economic models for its infrastructure development in the areas of fossil energy…among others. These models include public and private partnerships, feed-in tariffs and build-own-operate/build-own-transfer models, with all of their variations.”
(Source: Offshore Magazine)