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GRATA Law Firm

104, M OSPANOV STREET, 050020 ALMATY, KAZAKHSTAN
Tel:
Work +7727 2 445 777
Web:
www.gratanet.com
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Tashkent, London, Baku, Atyrau, Astana, Almaty and 3 more

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GRATA Law Firm advised ONGC Videsh

October 2012

GRATA Law Firm advised ONGC Videsh on acquisition of Hess' stakes in a Caspian oil field and associated Baku-Tbilisi-Ceyhan pipeline for $1 billion.

ONGC Videsh is the international subsidiary of PSU Oil and Natural Gas Corporation. The transaction reflects the Indian public-sector undertaking’s (PSU) aggressive plan for a sevenfold increase in oil and gas output from overseas assets by 2030 to satisfy domestic needs.

The company purchased Hess’ 2.72% interest in the Guneshli Fields and a 2.36% interest in the Baku-Tbilisi-Ceyhan  pipeline for $1 billion.

The team that worked on the deal included Mr. Samir Hadjiyev, Director of Baku Office of GRATA Law Firm and Mr. Javanshir Mammadov,  Co-Head of Legal Practice of GRATA Law Firm. 

Mr. Hadjiyev, who advised ONGC Videsh on Azeri law, said this the first time in the history of modern Azerbaijan that an Indian company has entered the Azerbaijan oil and gas market. Mr. Hadjiyev and  Mr. Mammadov had to consider both the bidding process for the assets and political risk involved.

Please follow the link to find more additional information - http://www.iflr.com/Article/3091982/Corporate/IndiaAzerbaijan-first-reveals-Indias-aggressive-oil-strategy.html

For more information please visit www.gratanet.com

 

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