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Wikborg Rein

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KRONPRINSESSE MÄRTHAS PLASS 1, PO BOX 1513 VIKA, 0117 OSLO, NORWAY
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Work +47 22 82 75 00
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Nor-Shipping 2011: Wikborg Rein in Brazil

July 2011

Wikborg Rein has a long tradition to follow its clients into new markets and has assisted its clients in their Brazilian business for many years. As Brazil will continue to be a high priority for our firm and our clients, we have entered into a law alliance with the leading Brazilian law firm Vieira Rezende.

The law alliance was announced at Wikborg Reins Nor-Shipping 2011 reception.

Brazil will during the next 10-15 years be one of the major oil and gas producers in the world. Major discoveries has been made in the Pre-salt layers in the Atlantic Ocean that extends about 800 kms along the Brazilian Coast in challenging waters debts of 3,000m and 7,000m below the seabed beneath a 2.000 m thick layer of salt. Petrobras alone has announced that it will invest USD 224 bn by 2010-2014 (686 development projects) and additional USD111,7bn by 2020 in the pre-salt reservoirs alone. More than 55,000 items has been identified in a preliminary shopping list, of which drilling packages and FPSO packages, sub-sea equipment and compressors being the most critical. Petrobras will also renovate its oil tanker fleet with 41 ships already contracted and another 8 to be tendered, it is expected that the fleet will reach more than 110 vessels in 2014. The Brazilian government has made it clear that the national content requirements in E&P will escalate to around 70 percent, and International major offshore contractors and suppliers are establishing operational and manufacturing facilities in Brazil to meet local content requirements. The Norwegian offshore industry is well positioned in this competition and there are several industry initiatives between Brazil and Norway to assist the Norwegian industry to take part in this market.

Wikborg Rein has assisted clients in Brazilian market for many years, and has built up a lot of experience in particular within the various oilfield service sectors. We have seen how our clients have been able to benefit from the experience from the pioneer projects and the understanding of local market conditions. Further, how the market has changed and the new challenges our clients are now facing as a result of the development of the legal framework for the industry and the new ambitious Petrobras investment plans based on local content requirements.


From left: Paulo Albert (Vieira Rezende), Finn Bjørnstad (Wikborg Rein), Øystein Meland (Wikborg Rein) and Daniela Ribeiro (Vieira Rezende).

All business is local
Our aim is to add value to our client’s development of their Brazilian business by understanding the legal challenges they are facing in the particular project, and give input for correct risk assessment and pricing. This requires a close cooperation and interfacing with local lawyers, and we have decided that our clients will be best served if we are able to develop a close cooperation with one law firm that knows us and our clients well.

Vieira Rezende is one of the leading law firms in Brazil with excellent track record and international recognition within the sectors important to our clients. The firm offers a full range of services to clients engaged in the oil, infrastructure and natural resources sectors combining its expertise in petroleum law with its specialized knowledge in other areas of law such as civil, tax, corporate, banking and labour law. Vieira Rezende has a total of 80 lawyers in their offices in Rio de Janeiro and São Paulo. The aim of the agreement is to develop a close cooperation between the two firms in order to better assist Norwegian and International clients in their business in Brazil as well as to assist domestic Brazilian companies in connection with their investments and business outside Brazil. The cooperation will in addition to client referral and close cooperation on assignments, involve exchange of lawyers and competence building. Wikborg Rein will from June 2011 have one of its lawyers working out of the Veira Rezende’s office in Rio de Janeiro.

The agreement will secure Wikborg Rein’s clients access to the best legal resources in Brazil, and will be a platform for Wikborg Rein to add value to our client’s development of their Brazilian business.

One person from each firm will manage the cooperation, and this will be Finn Bjørnstad from Wikborg Rein and Daniela Ribeiro Davila from Vieira Rezende. Finn Bjørnstad will from August 2011 work out of the Wikborg Rein London office.

Download (Brazil_SO_mai2011_web)


For more information please visit www.wr.no

 

 

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