United Arab Emirates > Projects and energy > Projects and energy
Projects and energy
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Allen & Overy LLP has a capacity and breadth of practice that is unrivalled in the region. In Saudi Arabia, the firm has gained a significant market share of power and petrochemical deals, including advice to the project company on a US$5bn petrochemical project (sponsored by Chevron Phillips and Saudi Industrial Investment Group) in Jubail. On the infrastructure side, the firm has completed a series of deals on behalf of DP World. Banking and projects partner Nicholas Crossin transferred to the Abu Dhabi office from Singapore in September, and links up with esteemed names in the UAE including Ian Ingram-Johnson, Jaspal Gillar and Christian Saunders. Bimal Desai heads the banking and projects department, which is described as ‘fast’, ‘accurate’ and ‘always reachable’. Clifford Chance handles a mixture of project development and project finance work, including large-scale real estate and mixed-use developments. A growth in water and sewage treatment projects, and an impressive portfolio of sponsor clients, illustrates the firm’s longstanding presence and esteemed status in the region. It also has a peerless record in Saudi Arabian projects. Malcolm Turner led the team which advised Export Import Bank of the United States and the commercial lenders on the US$3.5bn co-financing of a greenfield petrochemical plant in Saudi Arabia.
Shearman & Sterling LLP has been a dominant force in the Independent Water and Power Production (IWPP) sector thanks in part to its superb Abu Dhabi reputation. It has an outstanding list of Abu Dhabi-based clients, such as Abu Dhabi National Oil Company, International Petroleum Investment Company, and Mubadala Development Company. It ‘always has first class lawyers on board’ in the Abu Dhabi office, but it is noted for working seamlessly with other offices, London especially. Indeed, popular practitioner Ben Shorten has just returned to the London branch. Senior figure Philip Dundas and leading power specialist Tim Pick are highly reputed.
Ashurst LLP is praised for its ‘flexibility’, ‘creative solutions’, ‘very professional standards’ and for advice that is ‘tailored to what the client wants’. Daniel O’Neill was promoted to partner in 2008 and provides the upstream oil and gas expertise, with David Wadham having a formidable reputation in the power sector as well as downstream oil and gas. The firm’s representation of the lenders on the $2.23bn financing of the Fujairah F2 independent water and power project (IWPP) in 2007 enabled it to become a leading name in the Middle East power and water sector, and it has maintained its upward momentum. The firm has also successfully transferred its leading road and rail expertise to the Middle East, with Paul de Cordova and Joss Dare leading that side of the practice. Dare led the team that represented Serco on its successful bid to operate and maintain the first two lines of the eagerly anticipated Dubai Metro, a fully automated rail system due to begin operating in 2009. Such an impressive record suggests the firm is on the cusp of top-tier status.
Through its now tight relationship with major UAE developer Nakheel, DLA Piper Middle East LLP has gained exposure to a series of enormous projects, none more prestigious than the audacious Waterfront and Palm Jebel Ali development. The firm’s bold efforts to expand its team and its business have been richly rewarded with a broader swathe of work for a range of developers and sponsors. Abu Dhabi managing partner Stephen Webb is advising on a number of infrastructure and power projects in the region, while the firm’s project financing status was further enhanced by the arrival of Tony Holland from Mallesons Stephen Jaques’s Melbourne office. Other leading names include Stewart Diana, Anthony Ellis, and Debbie Barbour.
Denton Wilde Sapte is ‘highly professional’, and its team has been augmented by the arrival of the firm’s ‘responsive’ and ‘quick to react’ chairman James Dallas. From a relatively small offering two years ago, it now has an impressive projects team in Dubai and maintains a significant presence in the project finance sector. The practice’s mainstay business comes from governments and sponsors. It has a substantial presence in upstream oil and gas projects, notably in Oman, and demonstrated its broad sector expertise by representing a consortium bidding for the $6.8bn Ras Azzour power/desalination project in Saudi Arabia, the largest IWPP in the region. This follows its advice to Sumitomo Chemicals on the $10bn PetroRabigh peteochemical and refinery project financings in Saudi Arabia. Neil Cuthbert and Vincent Mulvey have excellent reputations.
Herbert Smith LLP continues to commit additional resources to the region as it seeks to build on the towering status provided by its role as counsel to Sumitomo Chemical on the development and financing of the $9.8bn Rabigh Project in Saudi Arabia. The firm has a powerful energy practice worldwide and much of its work in the Middle East is generated by an impressive client roster of Japanese trading companies. Energy partner David Laurence transferred from Tokyo to Dubai in November 2007 to exploit that trend. Senior figure Neil Brimson is also commended by clients throughout the region, Asia and Europe. Signifying its excellent energy credentials, the firm represented Hydrogen Energy (a joint venture between BP and Rio Tinto) on its agreement with Masdar relating to a hydrogen-fired power generation project in Abu Dhabi, which is expected to be the world’s largest hydrogen power project.
Led by new Dubai managing partner Sarosh Mewawalla, Linklaters advised the export credit agencies and commercial lenders on the financing of a $2.8bn petrochemicals plant in Saudi Arabia, just one illustration of the firm’s formidable record in that jurisdiction. The ‘strong team’ has worked on a series of landmark projects in the kingdom, including the landmark King Abdullah Economic City Port Project; the Makkah-Medina Rail Link; the Saudi Landbridge Rail Project; and Jeddah Islamic Port. Roles on major PPP, IWPP and gas pipeline projects in the UAE demonstrate the firm’s broad expertise. Projects partner Jonathan Inman has a superb reputation.
With its combination of leading expertise in the oil and gas industry and transport sector, Simmons & Simmons has an illustrious reputation in the UAE and Middle East. Having previously had a primarily localised outlook, the UAE offices are now much more international in focus. George Booth has a peerless reputation for energy work (including oil and gas) and has been advising Indian titan Reliance Industries on a series of developments including its $2bn offshore development of the KGD6 gas find off the east coast of India. Transport specialist Robert Leigh continues to advise the Road Transport Authority (RTA) on the landmark Dubai Metro project.
Trowers & Hamlins frequently operates as local counsel on major UAE projects with Henry Cort to the fore on major developments such as the Fujairah $1.5bn F1 IWPP. Andrew Rae in Abu Dhabi is also recommended for IWPP mandates. The firm has an oustanding record in Saudi Arabia, where Leroy Levy advised a consortium on its bid for the $5bn Raz Azzour IWPP. The firm’s engagements in connection with major city developments such as Knowledge Economic City and King Abdullah Economic City further illustrate its Saudi capabilities.
Afridi & Angell advises on infrastructure, power, water, and oil and gas matters, representing both banks and developers. The firm frequently acts as co-counsel with international firms. Amjad Ali Khan is regarded as ‘well grounded’, ‘down-to-earth’ ,and is commended for his ‘good practical experience’.
Baker Botts L.L.P. is recommended for its ‘good understanding of Middle East issues’, its ‘commercial’ approach, and its excellent negotiation and drafting skills. It has enhanced its presence in the Middle East through key hires such as Sean Korney and Nigel Thompson in recent years, and the transfer of David Emmons from the firm’s Dallas office. Much of its work relates to Saudi Arabia, including advice to Saudi Electricity Company on its IPP programme, an example of its increasing exposure to the power sector. The firm’s status is at its highest in the oil and gas sector (including LNG), where ‘excellent counsel’ Sean Korney has developed the firm’s standing throughout the region and beyond.
Chadbourne & Parke LLC launched a Dubai office in 2007. Its eminent reputation for projects and infrastructure has led to roles on a series of major IWPPs in the region. The $2.8bn Fujairah F2 IWPP in the UAE is just one example. It should also be said that Dubai partner Sohail Barkatali has an unrivalled record in Oman. Project finance specialist Richard Keenan has handled deals across the region, including in Saudi Arabia, UAE and Yemen.
Fulbright & Jaworski LLP has a fine standing in the energy sector. It has steadily increased its resources over the last few years and in 2008 relocated senior figure David Moroney to the Dubai office. The firm has also recruited David Silver from Qatar firm Hassan A Alkhater Law Office, bringing the practice additional exposure to energy projects in that jurisdiction. The team has a fine reputation for downstream oil and gas work, although an increasing flow of upstream instructions is illustrative of its broadened appeal.
Hadef & Partners is the preferred local counsel for many when it comes to major project financings in the UAE. Veteran partner Alan Rodgers has advised on such remarkable developments as the $2.8bn project financing of Fujairah F2 IWPP, and the Shuweihat IWPP in Abu Dhabi.
King & Spalding’s Dubai-based Philip Weems heads the global energy practice and is one of the leading LNG specialists worldwide. Clients view Weems as an ‘exceptional’ lawyer, and believe that he has drafted more standard forms in his sector than any other lawyer. Weems was selected by the Singapore energy Market Authority to advise on its first LNG import terminal development. Though primarily upstream focused, Weems is part of a team which also features senior figure, ‘commercial’ and ‘pragmatic’ downstream specialist Patrick Campos. The practice maintains a distinct Saudi Arabia emphasis, working for most petrochemical companies in the kingdom.
For many years a major player in Qatar, Latham & Watkins LLP has now established an impressive physical presence in the region. It has a small office in Doha, so the Abu Dhabi and Dubai offices have an important role in sustaining the firm’s excellent reputation in Qatar and throughout the region. It has worked on a series of LNG developments in Qatar, and represented the Government of Jordan on the privatisation of its downstream petroleum industry. Abu Dhabi-based partner Kenneth Schuhmacher has a fine reputation.
Milbank, Tweed, Hadley & McCloy LLP has an excellent record in the power sector in the UAE and the Middle East. Without an office in the UAE, it ranks in this category thanks to the impressive record of its London office, which has worked on some of the Middle East’s most celebrated developments, including the landmark project financing of Fujairah F2 IWPP, the world’s second largest IWPP. Norton Rose (Middle East) LLP is rightly regarded as ‘very active’ in the project finance sector. Project finance specialist Oli Charlesworth was elected to the partnership in 2008, while infrastructure and PPP exponent Jonathan Brufal has transferred to the UAE from London. A multi-office Middle East team represented HSBC on the landmark commercial refinancing of the $1.86bn Sipchem Joint Acetyls Complex project in Jubail, Saudi Arabia. Oli Charlesworth led a team that advised Al Salam Bank (Bahrain) on the sharia-compliant financing of a biodiesel project in Hong Kong, the first of its kind in the jurisdiction.
Vinson & Elkins L.L.P. is recognised for both upstream and downstream oil and gas work, while building an illustrious global and regional client portfolio. Its reputation in the Middle East is demonstrated by regular instructions from major names such as Mubadala Development Company. Abu Dhabi-based Chris Strong and Lewis Jones represented Mubadala when it acquired an interest in the Global Alumina Project in Guinea, West Africa. Jones also advised Mubadala on the $800m development of Barka 2IWPP in Oman. Partner Gary Kotara has a busy India practice, driven by clients including Reliance Industries. Kotara recently advised Reliance on the $12bn development of gas fields in India.
White & Case LLP has an impressive record in Saudi Arabia, Qatar and, increasingly, in the UAE, following the launch of its Abu Dhabi office. Historically it has acted for regional giants such as the Abu Dhabi Water & Electricity Authority (ADWEA) and Qatar Petroleum. Abu Dhabi-based Nick Collins was elected a partner in 2008 and has accrued a superb list of project finance instructions.
Al Tamimi & Company is frequently selected by regional sponsors as local counsel on project financings. It has unrivalled connections and knowledge of the regulatory environment in the UAE.
Dewey & LeBoeuf LLP has developed an impressive energy and infrastructure projects practice since recruiting Akin Gump Strauss Hauer & Feld LLP’s Gavin Watson in December 2007. The Middle East and North Africa is Watson’s natural space, but his local clients are beginning to go further a-field. The firm is representing ADWEA on the huge Abu Dhabi Sewerage Project.
Freshfields Bruckhaus Deringer is ‘well organised’ and ‘dedicated’ to the infrastructure sector. Lead partner Joseph Huse consistently demonstrates ‘knowledge of the subject matter’ and ‘understands his clients’ needs’. Much of the firm’s projects work now relates to the real estate sector, and new city developments in Saudi Arabia and across the region. It is advising on the development of the Sea Port and the Industrial and Logistics Zone of the King Abdullah Economic City in Saudi Arabia.
Galadari & Associates has assembled a sequence of impressive energy deals in recent years. It recently advised a Kuwaiti oil and gas services company and a UAE investment group on a $600m acquisition of an oil and gas company in Nigeria. It also provided local counsel to Dana Gas PJSC on its $1bn acquisition of Centurion Energy International.
Reed Smith’s Vince Gordon has an excellent reputation for project finance, notably in the UAE, but also across the Middle East and in India. Transport, infrastructure and hotel and leisure sectors dominate the practice.