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City firm beats off seven firms to advise on major petrochemical projects
Ashurst Morris Crisp has been instructed for the first time by the Petrochemical Industries Company of Kuwait to advise on two major projects. Ashursts has won roles on the Aromatics and Olefin II projects, which have a combined value of $3.4bn (£2.3bn). They are among the largest petrochemical projects to be undertaken in the region. Energy, transport and infrastructure partner Geoffrey Picton-Turbervill will lead the Ashursts team alongside Singapore partner Susan O'Rourke. The International Counsel Bureau in Kuwait will advise Petrochemical Industries on local law issues. Ashursts won the work in a competitive tender involving eight UK and US firms, including major firms such as Linklaters. "We took part in the tender with all the others, but I guess our experience in Kuwait was helpful," Picton-Turbervill commented. "A very small community of people is involved in this kind of work, and if you do a good job, word gets around and you get the prospect of other appointments. "The Aromatics and Olefin II projects will further boost Ashursts' international project financing capabilities." Petrochemical Industries is a new client for Ashursts and adds to its existing relationship with parent company Kuwait Petroleum Corporation. Ashursts is currently advising the corporation on the recentlyannounced project to import pipeline gas from Quatar. The firm's other key client in the region is the Ministry of Oil, which it is advising in connection with the renegotiation of the Arabian Oil Concession.