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CMS, Herbert Smith, and Schoenherr Advise on Shell Offshore Block Transfer to Woodside in Bulgaria

CMS, Herbert Smith, and Schoenherr Advise on Shell Offshore Block Transfer to Woodside in Bulgaria

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CMS has advised Shell International Exploration and Development Italia on the transfer of 30% of its exploration rights on Bulgarian offshore Block 1-14 Khan Kubrat to the local branch of Australia's Woodside Energy Limited. Herbert Smith and Schoenherr advised Woodside on the deal.

In the end of December 2018, the Bulgarian Government approved partial license transfer from Shell International Exploration and Development Italia to Woodside. According to CMS, the deal represents the largest farm-in transaction in Bulgaria. It is expected to close in the first quarter of 2019. 

The CMS team was led by the Partner Kostadin Sirleshtov and included Associate Denitsa Dudevska. 

Schoenherr’s team was led by Partner Stefana Tsekova and included Associate Dimitar Kairakov.

Editor’s Note: After this article was published CMS announced that the firm also advised Repsol Bulgaria on the partial license transfer of Khan Kubrat block. Also, CMS reported that, on February 20, 2019 the Bulgarian Government approved the farm-out transaction, allowing Shell to hold 50% of the interest in Khan Kubrat block, with Woodside holding 30%, and Repsol the remaining 20% in the permit.

 

CMS at a Glance

CMS Sofia is a full-service law firm, the largest international law firm in Bulgaria and one of the largest providers of legal services in the local market as a whole. The breadth and depth of our practice means that our lawyers are specialised, with a level of specialisation that few of our competitors can match.

CMS Sofia is the Bulgarian branch of CMS, a top ten global legal and tax services provider with over 5000 lawyers in 43 countries and 78 offices across the world.

CMS entered the Bulgarian market as one of the first internationally active law firms in 2005 and is now among the most respected legal advisors in the country. We have 7 partners, 4 counsel and over 30 lawyers in our office in Sofia.

Our legal experts, who are rooted in Bulgaria’s local culture, can also draw on years of experience in foreign countries and are at home in several legal systems at once. We know the particularities of the local market just as well as the needs of our clients and combine both to achieve optimum solutions. Our lawyers are Bulgarian qualified and we also have English qualified experts – all of them regularly working on cross-border mandates.

In our work, we focus on M&A, Energy, Projects and Construction, Banking and Finance, Real Estate, Media, IP and IT law, Tax, Employment law, Competition, Procurement and any kind of Dispute resolution, including arbitration and mediation. What’s more, we also take care of the entire legal management of our clients’ projects.

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