Congratulations to Dragon Oil, a subsidiary of Emirates National Oil Company, on the completion of its acquisition of BP’s stake in The Gulf of Suez Petroleum Company (“GUPCO”).
GUPCO currently produces around 60,000 barrels of oil per day from 11 concessions, and Dragon Oil plans to increase production above 75,000 barrels of oil per day and to maintain production at that level during the next 10 years.
Burness Paull’s previous experience of upstream oil & gas deals in Egypt includes acting for RWE DEA in the negotiation of the joint venture, transportation and other agreements for the West Nile Delta project, the $12 billion development of the Taurus, Libra, Giza, Fayoum and Raven fields utilising two separate export routes. Those fields are expected to account for around 20 per cent of Egypt’s current gas production.
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Burness Paull announces five new partners
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Burness Paull has promoted five of its lawyers to partner as the firm recognises commitment to excellent client service, continues to invest in developing talent and readies itself for further growth.
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Read our annual responsible business report, setting out some of our highlights, areas of progress and areas where we look to improve.
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Burness Paull has become the first law firm to sign up to the Pathways Pledge, an initiative created by Pathways Forward which aims to raise the participation of women in the entrepreneurial economy.
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