Tracey Greenaway discusses the drivers of growth and opportunities that exist across the sector.
Allens has been a longstanding player in the region's oil and gas industry – an industry not without complex political and regulatory challenges. The industry has an important role to play, not only as a significant contributor to the Australian and regional economy, but in meeting growing global energy demands.
Our team has played a major role in many of the pre-eminent oil and gas projects in the Asia region including in Papua New Guinea, Indonesia, Vietnam and Myanmar.
Our role as key adviser to many of the world's largest resources companies, and the industry expertise of our team members (many of whom have either been seconded to or worked full time with oil and gas companies), allows us an in-depth knowledge of the legal issues confronting developers and an up-to-date understanding of the domestic and international oil and gas markets as they rapidly evolve. We understand and navigate the vast cross-jurisdictional issues for our clients.
Our experience includes structuring major oil and gas acquisitions and disposals, the development and financing of LNG and floating LNG projects, as well as coal seam gas and shale gas projects. Our role involves preparing, negotiating and reviewing farm-ins, farm-outs, joint operating agreements, product lifting and sales agreements and associated arrangements such as drilling and EPC contracts.
In 2017, we were once again ranked as a leading firm in Chambers Global for Energy and Natural Resources in the Asia Pacific.
Case study: Nghi Son Refinery, Vietnam
Phases of the project: Contracts with the state for development, construction and project finance.
The twist: This was a true international affair, bringing together investors fromVietnam, Kuwait and Japan, contractors from Japan, Korea, France and Malaysia, and financiers from seven state-owned export credit agencies and 33 commercial banks.
The scale: The largest foreign investment project in Vietnam’s history and one of the largest in South East Asia.
The benefits: Vietnam is a developing country offering opportunities to foreign investors and this project helps implement its policy to be self-sufficient in petroleumproducts and petrochemicals production.