The Firm has a comprehensive understanding of the oil and gas sector in Pakistan having acted closely with multinational and local parties, both new entrants and those well-established.
Members of the Firm have been integrally involved in the commercialization of many gas fields (including Sui, Mari, Bhit, Zamzama, Miano and Mubarak) requiring drafting and negotiating gas sales and crude/condensate sales and gas pricing agreements. The Firm also advises on matters about ongoing production and development activities, as well as offshore and onshore exploration.
Apart from drafting, and opining on documentation, such as concession, pipeline financing, offshore petroleum sharing, EPC, drilling, seismic acquisition and general service contracts, the Firm provides practical assistance in negotiation and commercial aspects of transactions.
Members of the Firm have had the distinction of having concluded several unique projects in Pakistan, including a landmark series of agreements for a complex joint field development project; devising a new upstream gas pricing mechanism in 1999 (which was ultimately adopted in the Petroleum Policy 2001); a non-recourse loan from the IFC, secured against the borrower’s shares of the project assets and being party to a USAID funded project to work with the Federal Government on a range of regulatory reforms and systems to implement policies.
The Firm has acted (for the seller or a potential buyer) in the major divestments of exploration and production interests in Pakistan, in recent years (including BP, Petronas, OMV, Novus, Tullow, Premier and ENI), requiring extensive due diligence, interaction with the Government and negotiating share/sale purchase agreements.
Significant clients we work with include: