The Legal 500

Allen & Overy LLP has an ‘exceptional’ reputation in the project finance space, combining on-the-ground projects expertise, a strong Islamic finance capability and a regional footprint that few other firms can match. In 2010, ‘leading luminary’ Bimal Desai acted for Saudi Aramco Total Refining and Petrochemical Company, a joint venture between Saudi Aramco and Total, in a $14.2bn greenfield refinery and petrochemicals plant in Saudi Arabia, which involved 19 different financing facilities with seven ECAs and two Islamic finance facilities. Peter Timchur joined the team in 2010, after relocating to Dubai from the firm’s Moscow office.

Ashurst LLP’s ‘dedicated and hardworking’ projects team includes David Wadham, whose experience on regional IPP models is highly valued. Wadham splits his time between London and Abu Dhabi, while Nick Williamson returned to London in 2011 but continues to focus on the Middle East. The team promoted Judith Kim to partner and reinforced its resources locally by relocating David Jardine to Abu Dhabi, and recruiting David Charlier from Linklaters, adding oil and gas, infrastructure and project finance expertise to the practice. The firm is a key player on regional infrastructure projects, and in 2011 it advised Al Balad Al Ameen on the proposed $15bn Makkah mass rapid transit project.

Baker Botts L.L.P. is considered by many to be ‘the best firm in the region for upstream oil and gas work’, with the ‘outstanding’ Sean Korney singled out for his ‘business-minded, prompt and thorough’ approach. He acted for Mitsubishi Corporation on Iraq’s first midstream gas project. Other highlights for Nigel Thompson’s team in Dubai included representing Saudi Electricity Company on all aspects of its IPP programme, including the Riyadh PP11 IPP and Qurayyah IPP 1. Robert Jordan leads the practice.

Clifford Chance’s sizeable projects team grew further in 2011, particularly at associate level, and now numbers 40 fee earners, including five partners. Richard Parris leads the firm’s new Qatar practice and still works closely with Peter Avery and Robin Abraham in Dubai, and with Richard Ernest and the newly relocated Mohamed Hamra-Krouha in Abu Dhabi. Highlights included acting for KEPCO in its consortium bid to design, build, finance and operate a greenfield 90MW wind power generation complex in Jordan; and advising Lukoil Mid-East on developing the West Qurna II oilfield near Basra in southern Iraq.

Neil Brimson’s Middle East projects practice at Herbert Smith LLP has had another successful year, particularly in Iraq, where its track record includes acting for Gazprom Neft on major petroleum projects. It also handles broader oil and gas and infrastructure projects, such as senior associate Joanna Addison advising Qatar Petroleum on its Pearl gas-to-liquids project; and Abu Dhabi based managing partner Andrew Newbery acting for Sumitomo Corporation and KEPCO as developers of Abu Dhabi’s Shuweihat 3 IPP project.

Linklaters’ project finance practice acts for sponsors and lenders and has been active on some of the largest and most complex deals in the market. These include advising the lenders to the $14bn Jubail export refinery and petrochemical project, and the shareholders on the Shams 1 solar project in Abu Dhabi. Sarosh Mewawalla leads the practice, which is advising on the upgrade financing of the airport at Madinah in Saudi Arabia.

Shearman & Sterling LLP is a key player in the oil and gas and power sectors, and is considered to have ‘a great overall capability’ when it comes to regional project mandates. Philip Dundas leads the practice from Abu Dhabi, and is ably assisted by Iain Elder and newly promoted partner Brian Clayton, using additional project finance resources from its international network where necessary. Pakistan and India are growing areas of work for the team, which recently acted for Asian Development Bank and International Finance Corporation on the financing of a 50MW wind farm in Pakistan.

Clyde & Co LLP’s service levels are ‘often excellent, and never less than very good’. 2011 saw some significant additions, with the recruitment of George Booth from Simmons & Simmons Middle East LLP bringing energy sector expertise to complement David McElveny’s construction and infrastructure knowledge. Highlights for the team included representing Lukoil in its involvement in the West Qurna II oilfield development project, and acting for Transfield Services International on its bid to design, build, finance and operate the Mafraq-Ghweifat highway. Michael Grose is recommended for his ‘experience and knowledge in the construction field’.

Latham & Watkins LLP is particularly strong on the Islamic finance side, thanks to Craig Nethercott, who splits his time between Dubai and Riyadh. Practice head Villiers Terblanche advised on the syndicated loan financing relating to the monetisation of receipts from the Salik toll road collection system in Dubai, which involved both conventional and Islamic tranches.

Norton Rose (Middle East) LLP’s projects and energy practice advises global financial institutions and government entities on complex financing matters, often with a cross-border and Islamic financing component. Martin Preston heads the group, which advised Standard Chartered and African Development Bank on the financing of a €90m port project in Senegal. It also advised the lenders on a $1.1bn steel mill project in Bahrain.

SNR Denton’s projects practice ‘compares very favourably’ with its peers and competitors in the market, with Rob Walker singled out for his ‘talent and knowledge of EPC contracts’. Abu Dhabi based Stuart Cavet now heads the energy practice after James Dallas relocated to London in April 2011, and Neil Cuthbert heads the overall projects team. Highlights included acting for RAK Petroleum on its acquisition of various upstream assets in the Emirate of Ras al-Khaimah by way of exchange of non oil and gas assets, and a subsequent agreement with the local government to consolidate those interests for tax purposes. Other clients include BP and Mitsui E&P Middle East.

Trowers & Hamlins has strong local regulatory knowledge and a broad team that encompasses expertise in construction, hospitality and PPP, leading to a number of airport and social infrastructure project instructions across the GCC in 2011. Michael O’Reilly acted for Saudi Airplex in its $1.5bn bid to rehabilitate, expand, develop, operate and maintain Prince Mohammed bin Abdulaziz International Airport in Madinah, Saudi Arabia. O’Reilly and Stewart Simpson are recommended.

In line with its global reputation in the sector, Vinson & Elkins L.L.P.’s UAE practice had a particularly strong year in oil and gas infrastructure projects, and expanded its Middle East network by opening an office in Saudi Arabia and through significant recruitment across the region. In 2011, Christopher Strong and Ahmed el-Gaili advised Iraq’s Ministry of Oil on the $17bn South Gas Project. Strong also advised Emirates Aluminium Company on phase 2 of a smelter project at Al Taweelah in Abu Dhabi.

Afridi & Angell’s managing partner and banking and finance head Amjad Ali Khan is an expert in project finance, handling local and regional matters for banks and developers. Highlights included acting for United Bank Limited in a syndicated financing related to the expansion of a power plant at Hadramount in Yemen.

Chadbourne & Parke LLC has ‘an excellent level of expertise in the power sector and experience of independent power projects in the Middle East’. Its three-partner team in Dubai, which is headed by Sohail Barkatali, has compiled an impressive track record. This includes advising GDF Suez and other sponsors in the $1.7bn Barka 3/Sohar 2 IPPs, and advising the government of Oman on all aspects relating to the competitive procurement process for Oman’s first solar power IPP. Agnieszka Klich has ‘a deep understanding of key issues, whether from the sponsors’ or the lenders’ perspective’.

Dewey & LeBoeuf LLP’s projects team advised Neste Oil Corporation on a joint development with Abu Dhabi Oil Refining Company relating to a refining facility in Abu Dhabi, and acted for the lenders on the $1.8bn financing of the 1,500MW gas-fired Sur IPP in Oman. Gavin Watson is recommended.

Freshfields Bruckhaus Deringer fields ‘a fantastic team comprised of lawyers with knowledge and experience in both English and local law’. Joseph Huse leads the team, which has broad sector coverage, encompassing oil and gas, renewable energy, and transport projects. It advised Office Nationale d’Electricité on the $240m Taza wind farm development in Morocco, and advised Alstom Transport on the Al Sufouh tram project in Dubai. Marc Fèvre moved to Baker & McKenzie LLP.

In Fulbright & Jaworski LLP’s Dubai office, John Lonsberg, Richard Devine and Mark Bisch are all well regarded as oil and gas sector specialists, and advise clients including oil and oilfield services companies. It has been particularly active advising clients on prospective operations in Iraq.

Hadef & Partners’ busy project finance practice provides local law advice on some of the UAE’s most complex and high-value deals. Alan Rodgers and Valeria Lysenko acted for Total and Abengoa as project sponsors in the $162m financing of the Shams 1 solar power project. The team also provides ongoing advice to Abu Dhabi Distribution Company, including agreements for the fast-track construction, installation, commissioning and operation of water and electricity infrastructure relating to real estate developments in Abu Dhabi.

King & Spalding LLP’s projects team provides ‘expertise and professionalism that is of the highest calibre’. Highlights included acting for the Tourism Development & Investment Company on the development of its multibillion-dollar Saadiyat Island development, which includes a district cooling PPP project. David Lavery and Hoda Naghdy joined the Abu Dhabi office from Minter Ellison and Freehills, respectively, joining Tim Burbury, whose ‘negotiation skills are unmatched’ and who has ‘a wealth of knowledge and deep understanding of the energy management field’. Philip Weems relocated to the Singapore office.

Pinsent Masons’ construction expertise makes it a natural choice for clients seeking advice on regional infrastructure projects, particularly in the transport sector. India was a key jurisdiction for the practice during 2011, with managing partner Sachin Kerur advising Jetpur Somnath Expressways Limited on its 30-year concession from National Highways Authority of India to build a 128km section of National Highway 8, which connects Delhi to Mumbai. Other highlights included advising China Petroleum Engineering Corporation on its $1bn EPC contract and associated agreements for the construction of the Habshan to Fujeirah cross-Emirate oil pipeline. The team was reinforced by the arrival of Simon Harvey from Baker & McKenzie and Daniel Tain, who relocated from London in 2011.

Reed Smith has a strong local real estate and infrastructure practice, and acted for Reem Developers LLC on all aspects of its $8bn, 633ha Al Reem Island development off the coast of Abu Dhabi. Abu Dhabi based partner Arash Amai is ‘pleasant to work with, even during tense situations’.

Simmons & Simmons Middle East LLP displays ‘extensive competence in energy projects’, and it is highly regarded by clients, primarily local and international oil and power companies. The team is advising Al Muwakaba for Industrial Development & Overseas Commerce on the development and implementation of a toluene di-isocyanate facility in Saudi Arabia. Other clients include Qatar Petroleum and Shell. The ‘clear and concise’ Adrian Nizzola heads the practice: both he and the ‘extremely knowledgeable’ Nick Williams are recommended.

White & Case LLP has been present in the GCC region for over 15 years, and is a regular fixture for high-profile project finance mandates. Shibeer Ahmed and Doug Peel led the team in acting for the lenders on the $2.65bn Mafraq-Ghweifat highway PPP project, and advising the General Authority of Civil Aviation regarding the proposed PPP expansion of the Prince Mohammed Bin Abdulaziz International Airport in Madinah.