Oil and Gas

Sameta has advised oil and gas companies on numerous projects under a diverse range of mandates.

These include tax advice and representation in respect of all types of activity in the oil and gas industry, from oilfield development and production to the acquisition/disposition of stakes in oil and gas projects around the world (including British and Norwegian offshore fields in the North Sea) to raising traditional forms of financing for projects, including for oil derrick, platform and pipeline construction.

Sameta lawyers are experts on legal structuring of investment projects and drafting of construction contracts, including agreements on the preparation of front-end engineering and design (FEED) documentation; engineering, procurement and construction management (EPCM) documentation; and engineering, procurement and construction (EPC) documentation. Other areas of our expertise include the management of interface risks and technological licences.

Sameta has developed methodologies for tax accounting and bookkeeping of capital expenditure, including when increasing output at fields currently under production.

Sameta has broad experience handling all aspects of contractual relations and tax in this sector, including production sharing contracts (PSC), concession agreements, joint venture (JV) agreements and joint operating agreements (JOA), as well as on sale and purchase of assets, financing, acquisition and disposition of stakes in oil and gas projects, drilling and oilfield development contracts, and short-term and long-term contracts for the supply of gas, liquefied natural gas (LNG), liquefied petroleum gas (LPG) and crude oil.

Sameta can offer expert advice on governmental regulation of the transportation, distribution and storage of natural gas, including state regulation of wholesale prices of gas, fees for sale and supply services, transportation tariffs, and fees for access by independent producers to the unified gas supply system and gas distribution networks.

Sameta’s services include:

  • Advising on Russian tax legislation and the application of international tax treaties, including calculation and payment of the minerals extraction tax, excise tax, water tax and customs duty, and performance of tax obligations under production sharing agreements
  • Corporate tax planning, structuring of intra-group relations within corporate holdings, minimization of tax risks: transfer pricing, thin capitalization rules, unjustified tax benefits
  • Tax due diligence in preparation for a scheduled field tax audit, in the framework of M&A, and prior to business restructuring
  • Tax structuring of investment projects and formulation of balanced models for project implementation, raising financing and business operations
  • Legal support of desk tax audits and field tax audits
  • Advising on corporate disputes and protection of shareholder rights
  • Support of M&A transactions, significant asset acquisitions, structuring, strategic planning, implementation of shareholders' agreements and joint venture agreements
  • Analysis of compliance with the United States’ Foreign Corrupt Practices Act (FCPA) and the UK Bribery Act
  • Due diligence of title to real estate, including subsoil blocks
  • Master contracts, works contracts, subcontract agreements and other types of construction contracts
  • Advising on front-end engineering and design documentation under investment and construction projects

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