SUBSECTORS AND SERVICES

Subsectors: ·

• Oil and gas: downstream, midstream and upstream ·
• Nuclear power ·
• Renewable energy ·
• Energy and natural gas transmission and distribution ·
• Electricity and natural gas supply ·
• Electricity trading ·
• “Green” bonds ·
• “Green” hydrogen production and other emerging technologies ·
• Energy storage ·
• Pipeline and maritime transportation ·
• LNG ·
• Trading of petroleum and petroleum products
• Privatisation of energy enterprises ·
• Mining and metals ·
• Waste-to-energy

Services: ·

• Regulatory advice ·
• Due diligence of energy and mining companies ·
• Project structuring ·
• Project development, planning and construction ·
• Mergers and acquisitions of energy and mining companies and assets ·
• Public-private partnerships ·
• Joint ventures and strategic partnerships ·
• Post-closing support and integration ·
• Production sharing agreements ·
• Joint activity agreements ·
• Production enhancement contracts ·
• Utility and corporate power purchase agreements ·
• EPC contracts ·
• FIDIC contracts ·
• EFET contracts ·
• HSE matters ·
• Equity and debt capital markets ·
• Project financing and corporate lending ·
• Competition compliance and investigations ·
• Anti-corruption compliance ·
• Dispute resolution and claim management ·
• Tax

We are proud to contribute to our clients’ success with their investments in Ukraine. Our experience includes advising:

Oil and gas ·

• Aspect Energy and SigmaBleyzer on the 18-month negotiation and successful signing of the Varvynska Production Sharing Agreement (PSA) with the Ukrainian Government. These are the first US investors to invest via a PSA since the exit of Chevron from Ukraine in 2014. ·
• UGV, Ukraine’s largest gas producer, on the preparation and successful signing of the Berestianska Production Sharing Agreement (PSA) with the Ukrainian Government. ·
• UGV, Ukraine’s largest gas producer, on entering into the USD 30 million production enhancement contract (PEC) with Expert Petroleum in respect of 13 mature fields in Western Ukraine. This is the first-ever PEC project in the history of Ukraine. It is expected that the project will contribute to an increase of 300 million cubic metres of natural gas within the first five years. According to UGV, the successful completion of the project will add more than UAH 4 billion (approximately USD 140 million) to the GDP of Ukraine and the Lviv region. ·
• UNB, a major Ukrainian oil and gas company, on its successful participation in the governmental tender for the Rusanivska production sharing agreement (PSA) and subsequent negotiations with the Ukrainian Government.
• Trident Acquisitions, a NYC-headquartered and NASDAQ-listed investment fund, on the establishment of a joint venture with LSE-listed San Leon Energy and preparation of the winning tender bid for the development of the massive Dolphin block in the Black Sea. ·
• Ukrnafta, Ukraine’s largest oil producer, on the successful settlement of its USD 1.1 billion tax debt (the largest tax debt in the history of Ukraine). One of the options for the debt settlement was the sale of Ukrnafta’s gas producing assets to Naftogaz of Ukraine, and as part of this option we have advised Ukrnafta on the deal structuring, carried out the due diligence of these assets and prepared and negotiated the transaction documentation. ·
• Ukrnafta, Ukraine’s largest oil producer, on development of the template production enhancement contract (PEC) to be used for Ukrnafta’s PEC projects in Ukraine. This was the first-ever PEC mandate that a Ukrainian law firm was instructed to advise on, and we were happy to assist Ukrnafta with this unprecedented and challenging assignment. ·
• BB Energy, a world-leading independent energy trading company, on the acquisition of the Ukrainian assets of Transbunker Group, the largest operator of seagoing product tankers and barges in the CIS. ·
• Arawak Energy Ukraine, a company within the Vitol Group, on the acquisition of a stake in Geo Alliance and the establishment of a strategic partnership with Geo Alliance’s shareholder, EastOne, which resulted in Geo Alliance becoming a leading private producer of gas and gas condensate in Ukraine. ·
• Chevron on its 18-month negotiation of a production sharing agreement (PSA) with the Ukrainian Government for shale gas exploration in the Oleska block in Western Ukraine. This was the first shale gas project in Ukraine. As part of this representation, we prepared a significant number of changes to Ukrainian laws aimed at enabling PSA investors to operate efficiently, and these changes were passed into law. ·
• TNK-BP on various large-scale projects in Ukraine, including the proposed sale of the Lysychansk refinery and the acquisition of a large network of petrol stations in Ukraine. ·
• Shell on the establishment of a joint venture for the operation of a network of petrol stations in Ukraine. ·
• Galnaftogas, the operator of one of the largest networks of petrol stations in Ukraine, on the establishment of a joint venture with ADM Capital, an Asian-based Private Equity Fund. ·
• Vanco International (currently Van Dyke Energy Company), a large international oil and gas company, on entering into the first-ever production sharing agreement (PSA) in Ukraine. The project was aimed at deep-water natural gas exploration on the Prykerchenska block, and we have supported the client through the entire 18-month negotiation process. ·
• Incitive, an Australian private equity fund, on its investment in a Ukrainian oil and gas Geo Alliance, EastOne, company developing oil and gas fields in Central and Northern Ukraine.
• Hawkley Oil & Gas, an Australian investor, on the acquisition of a majority stake in an oil and gas business operated through a joint activity agreement with a state-owned company. ·
• U.Energy, a Swiss company, on the establishment of several joint ventures for oil and gas exploration and development with the state-owned company Nadra of Ukraine.

Renewables and electricity ·

• J.P. Morgan Securities Plc (as the debt coordinator) and the EBRD, NEFCO, BSTDB, Proparco, Finnfund, IFU, FMO and Green for Growth Fund on a EUR 262 million secured term loan to Ukrainian project company SyvashEnergoProm to fund the construction of a 250 MW Syvash wind power project, one of the largest renewables project financings in Ukraine. ·
• The EBRD on the project financing of a sugar refinery company in Ukraine for the construction of a biogas plant. ·
• The EBRD on the project financing of a small hydro power plant in Western Ukraine. ·
• FMO, GGF and GIEK on the financing of the construction, maintenance and operation of Scatec Solar’s 54 MW solar power plant in Ukraine. ·
• Aice Hydro A/S on the acquisition of a hydro power plant in Western Ukraine.
• Landesbank Berlin on the refinancing of a 200 MW Botiyevsky wind power project. ·
• A French energy major on the acquisition of wind power projects in Ukraine. ·
• A Saudi energy investment company on the successful acquisition of a solar power project in Ukraine. ·
• A Chinese export insurance agency on the potential provision of export credit insurance for the construction of a 100 MW wind power project in Ukraine. ·
• A major Turkish diversified holding on potential investments in the renewable energy sector and the development of the client’s own solar power projects in Ukraine.

Nuclear power ·

• A leading European supplier of technologies for nuclear power plants on the international procurement procedure and subsequent execution of agreements for supply and installation works for Energoatom, the National Nuclear Energy Generating Company of Ukraine, in respect of technological and safety equipment for nuclear power plants in a project funded by the EBRD. ·
• A major Spanish energy company on the contemplated participation in the Nuclear Power Plant Safety Upgrade Programme in Ukraine. ·
• A US-headquartered nuclear software company on a dispute concerning its participation in a tender held by Energoatom, the National Nuclear Energy Generating Company of Ukraine.
• General Electric Company on the establishment of joint venture with Alstom and the obtaining of a merger clearance for the USD 13.9 billion acquisition of certain companies of the Alstom Group.
• MINING AND METALS ·
• Coca-Cola HBC on regulatory matters concerning its water extraction business in Ukraine. ·
• Ferrexpo on the USD 400 million four-year committed revolving pre-export finance facility from nine foreign lenders, and BNP Paribas and Deutsche Bank as mandated lead arrangers.
• Deutsche Bank, ING, Natixis and UniCredit in their capacity as the coordinating committee for the pre-export finance banks on the successful USD 2.3 billion debt restructuring for Metinvest. ·
• The committee of creditors on the USD 820 million debt restructuring of Donetsksteel, Ukraine’s largest producer of hard coking coal. ·
• A syndicate of European banks led by ING and UniCredit on up to USD 500 million pre-export financing of Donetsksteel aimed at refinancing of some of its existing debt, which was restructured under an override agreement executed in 2011.
• A Canadian mining company on the USD 60 million UNICTRAL case brought under the Ukraine-Canada BIT over the creeping expropriation of subsoil licences. ·
• A group of investors on the USD 180 million ЕСТ arbitration against the State of Ukraine over an increase in subsoil rent.