Eversheds advises Petrojetty on PPP concession for petroleum jetty development
Eversheds has advised Petrojetty Company, an affiliate of Oryx Energies, on a public-private-partnership (PPP) concession for the development and operation of a petroleum jetty at Sierra Leone’s key import and export facility, the Kissy Oil Terminal in Freetown.
The agreement grants Petrojetty the right to design, construct and operate a jetty for the import and export of petroleum products, edible oils and bioethanol. The new jetty, which is expected to be completed by early 2015, will increase capacity, comply with international standards and facilitate access with international markets efficiently and economically.
Petrojetty will develop and operate the jetty for 21 years in a PPP with the government of Sierra Leone, after which the facilities will revert to Sierra Leone’s Port Authority. Oryx Energies signed a concession agreement with Sierra Leone’s authorities in October 2013 and the agreement was ratified by the country’s parliament in February 2014.
The Eversheds team, led by Partner Howard Barrie, worked principally with Lucy Chadwick and Lynne Wells, and local counsel Berthan Macaulay Jnr advised Petrojetty and Oryx Energies on all legal aspects of the concession agreement and its negotiations with the various government stakeholders.
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