Ashursts hit by Dragon Oil move

CITY firm Ashurst Morris Crisp is likely to lose out on almost a quarter of a million pounds-worth of work when one of its major clients, Dragon Oil, moves to Dubai.

Dragon Oil's in-house counsel Edward Simpson is also a casualty of the move. He is being made redundant at the end of June.

The Anglo-Irish company was taken over by Emirate National Oil company at the end of last year, after it acquired a 70 per cent stake in the company.

Now the administration of the company is moving from Dublin and London to Dubai with the probable result that its legal work will move with it.

Simpson estimates that his company, which specialises in exploration and production work, sent around u250,000-worth of business to Ashursts last year.

Simpson is the only lawyer in Dragon's in-house department and says that almost all legal work is sent to Ashursts.

He says that he has yet to find another position, al-though he is currently in discussions with a handful of in-house departments.

The company is moving as Dubai is closer to Dragon's main oil fields in Turkmenistan which will reduce overheads.