Wednesday, 21st September 2011 by Joe RowleyMachado, Meyer, Sendacz e Opice Advogados has helped independent oil company Barra Energia close two deals to acquire a 30 per cent stake in the Santos basin oil block from Chevron and Shell.
Shell turned to in-house counsel in the deal, with Chevron reling on Mattos Filho, Veiga Filho, Marrey Jr e Quiroga Advogados for regulatory law and Barbosa Müssnich & Aragão for corporate issues.
The acquisition was announced on 15 September, with Barra paying an undisclosed amount for a 20 per cent stake in the BS-4 block from Chevron and a 10 stake from Shell.
Following the deal, state-run Petroleo Brasileiro will own the largest share in the oilfield with a 40 per cent stake, will Shell holding the other 30 per cent.
Barbosa Müssnich partner Amir Bocayuva say the firm was ′engaged by Chevron to issue an opinion about certain specific issues related to this deal and did not advise Chevron on the deal as a whole′, adding that their work included prepared the legal opinion on behalf of Chevron.
It is understood that Mattos Filho was brought in midway through the deal to advise on specific legal issues relating to the merger, although neither Mattos Filho nor BM&A would provide further details.
Machado, Meyer, Sendacz e Opice Advogados declined to comment on the deal.
The BS-4 block is located off the coast of São Paulo and made up of two oilfields - Atlanta and Oliva – which between them hold an estimated 2.1 billion barrels of oil.
Counsel to Chevron
In-house counsel - Jose Vicente and Rafael Rezende
Mattos Filho, Veiga Filho, Marrey Jr e Quiroga Advogados
Partners Giovani Loss and Amadeu Ribeiro and associates Marcio Soares and Cecilia Romero
Barbosa Müssnich & Aragão
Partners Amir Bocayuva and Anna Carolina Malta and associates Fabio Peres and Gabriela Ribeiro Nolasco
Counsel to Barra
Machado, Meyer, Sendacz e Opice Advogados
Counsel to Shell
In-house counsel
(Latin Lawyer 21.09.2011)
(Notícia na Íntegra)