CMS Romania has advised the US independent exploration and production company, Hunt Oil, on one of the largest natural gas discoveries in Romania in the last 30 years.
According to CMS, its lawyers "advised Hunt, as the operator, on every stage of the project – from planning and construction through to the launch of commercial production."
The experimental gas production comes from the Padina North 1 well, located in Buzau county, in southern Romania, drilled in 2014, along with other newly built production facilities: gas separators, gas treatment and gas measurement systems, pipelines ensuring connectivity to the national transport system, and liquid products storage facilities.
CMS describes this as a significant project for both Hunt Oil, and for Romania, "representing approximately EUR 17 million worth of investment in the development of this discovery by Hunt Oil over the past 20 months, in partnership with OMV Petrom, the largest oil and gas producer in Southeastern Europe."
CMS advised on a range of issues, including securing land rights, public and private procurement, negotiating and assisting the implementation of EPC contracts, obtaining the necessary authorizations to build and operate the surface facilities and adjacent pipeline connection to the gas national grid, taxation, as well as antitrust aspects related to the sale and marketing of the output. The team was led by Partner Varinia Radu, CMS's Head of Oil & Gas in CEE, who was supported by CMS Senior Tax Specialist Roxana Popel, Senior Associates Ramona Dulamea and Daniela Popescu, Consultant Madalina Constantinescu, Senior Tax Manager Andrei Tercu, Associate Laura Capata, Lawyer Ana Maria Beclenas, and others.
