Clydes beats panel rivals to Lukoil Iraqi oilfield brief

Clyde & Co’s energy group has won a major mandate after being appointed to advise Lukoil Mid-East in support of the development of its West Qurna-2 oilfield in Iraq.

The Clydes team on the project is being led by Abu Dhabi energy partner George Booth and London special counsel Duncan Gray.

The firm will also work with Iraqi law firms on some elements of the project, which will involve analysis of local law issues, service provider contracts and other projects work.

The mandate was won following the appointment of Clydes to Lukoil’s panel last month. The other ­members of the three-firm roster are Akin Gump Strauss Hauer & Feld and Clifford Chance.
It is understood to be the first time that Clydes has advised the oil giant on upstream work

Both Booth and Gray are recent hires by the firm, joining from Simmons & Simmons and LG ­respectively.

It is expected that the team on the project will ­ultimately involve more of Clydes’ Middle East ­corporate partners and ­London oil and gas ­partners.

The West Qurna oilfield has recoverable reserves of 43 billion barrels, making it the second largest in the world and potentially ­doubling Lukoil’s ­current daily production.

Gray commented: “This is one of the biggest ­[projects] in the world so we’re very happy with it.”

Lukoil owns the field in conjunction with junior partners Statoil and the state-owned North Oil Company.