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Salans Awarded SOCAR Restructuring Contract
Salans, through its U.S. subsidiary, SHH International, has concluded a major contract to advise on the restructuring and commercialization of SOCAR, the State Oil Company of the Azerbaijan Republic. The project is funded under a US Trade Development Agency (USTDA) grant administered by the European Bank for Reconstruction and Development (EBRD).
This major project, which the firm won by competitive tender over more than a dozen other firms, will see Salans work in conjunction with consulting firms Taylor-DeJongh, PFC Energy and ICF Consulting. The first phase of the project is expected to last for 12 months.
The project will involve members of the firm's CIS practice based in the Baku, Paris and New York offices. The core project team will consist of James Hogan, Ophelia Abdullayeva, Khalig Ildirim-zada, Brenda Horrigan, George Macdonald and Randy Bregman.
Salans partner James Hogan commented, "On the 10th anniversary of the signing of the Azeri-Chirag-Gyunashli 'Contract of the Century,' and with the completion of the Baku-Tbilisi-Ceyhan pipeline only months away, it is important for SOCAR to realize its potential as a world-class state oil company, operating under international best practices. We are look forward to assisting SOCAR in meeting the challenges this presents." New York-based partner George Macdonald added, "The team we have constituted for the SOCAR restructuring project is particularly strong, with Salans, named by Chambers as Eastern European Law Firm of the Year, Taylor-DeJongh, the No.1 - ranked Oil & Gas Advisor of the Year for the past 2 years, and the internationally-recognized specialist firms PFC Energy and ICF Consulting. We are delighted to be working with the EBRD and SOCAR on this important project."
ENDS
Salans is a full service international law firm with offices in Almaty, Baku, Bratislava, Bucharest, Budapest*, Istanbul, Kyiv, London, Moscow, New York, Paris, Prague, Shanghai, St. Petersburg and Warsaw. The firm's combination of international capability and domestic expertise enables it to provide comprehensive services matching the needs of global and local clients alike.
Contacts:
James Hogan, Partner, +33 1 42 68 48 65, jhogan@salans.com
Rob Holmes, Global Director - Business Development & Marketing +44 (0) 20 7509 6029, rholmes@salans.com
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