Global, sector-focused law firm advised Pakistani International Oil Limited (PIOL) on a production concession agreement for Abu Dhabi Offshore Block 5.
PIOL is a consortium of four Pakistani energy companies: Pakistan Petroleum Limited (PPL), Mari Energies Limited, Oil and Gas Development Company Limited (OGDCL) and Government Holdings (Private) Limited (GHPL). The production concession is located near the Zakum field offshore the UAE and primarily produces conventional oil resources. PIOL will hold a 40% participating interest with Abu Dhabi National Oil Company (ADNOC) holding the remaining 60%.
Giuseppe De Rosa, Acting CEO of PIOL, commented:
“This production concession agreement is a culmination of tremendous collaboration done by PIOL and ADNOC. We are proud to have concluded this challenging transaction. Throughout the negotiations we received invaluable support from Slava Kiryushin and Missba Nizami who were there to support us every step of the way. The HFW team has played a critical role in negotiating the terms of the concession as well as supporting PIOL and each of its shareholders. Our relationship with Slava goes back over five years and we look forward to ongoing support from the HFW team in developing Abu Dhabi Offshore Block 5. The industry insight provided by the team sets them apart as true sector experts.”  Â
The HFW team advising PIOL was led by Dubai-based Partner Slava Kiryushin with support from Missba Nizami.
HFW has been in the Middle East since 2006 and now has 21 partners and more than 60 lawyers in total across its offices in Abu Dhabi, Dubai, Kuwait City, and Riyadh, making it one of the largest and longest-standing practices of any international law firm in the region.
