Leading global law firm Herbert Smith Freehills has advised LLC Gazpromneft-Sakhalin on its international tender and contract for a semi-submersible drilling rig from Japan Drilling Company to be deployed at the Ayashsky block, located on the continental shelf of the Sea of Okhotsk.
The firm advised on the structuring of the transaction and all aspects of the drilling contract and associated charterparties for support drilling vessels.
LLC Gazpromneft-Sakhalin holds subsoil licences for the blocks in the Arctic shelf and the Sea of Okhotsk. LLC Gazpromneft-Sakhalin is a subsidiary of PJC Gazprom Neft which is the only company in the world undertaking commercial production of hydrocarbons in severe offshore Arctic conditions.
"We're delighted to have advised Gazprom Neft yet again, and on such a complex contract," said partner Danila Logofet who led the team. "It required bespoke structuring and contract drafting to cover the challenging operating conditions around Sakhalin Island and close coordination across our multi-office team."
Danila was assisted by partner Hilary Lau, senior associate Calvin Ho in Hong Kong, senior associate Oxana Koerner and associate Elvira Vanieva in Moscow, and associate Richard Taylor in Tokyo.
"This transaction once again proves our strength in shipping and drilling matters," said Hilary. "Our depth of experience in this area across a range of territories and projects allows us to tackle complex transactions such as this, wherever the client or project is located."
Of counsel Gary Wan at the firm's Singapore foreign law alliance partner Prolegis provided advice on Singapore law aspects of the contract.