Herbert Smith Freehills has a leading practice in Iran, with our transactional experts being especially recognised in the Iranian oil and gas and power sectors. Our dedicated Iran Group brings together specialist lawyers from across our global network, to advise our clients with interests in Iran.
The Iran Group is headed up by an international, cross-practice team of nine partners who guide their colleagues across the network on matters to do with Iran. This network approach is particularly important given the lifting of sanctions pursuant to the Joint Comprehensive Plan of Action agreed on 14 July 2015 and implemented on 16 January 2016, which presents an opportunity for many foreign investors to enter the Iranian market. In this rapidly changing climate, our approach is to methodically collect and collate information, speaking with our contacts in Iran, to be able to rapidly pass on our knowledge of updates to the sanctions regime and business environment to our clients.
Our Iran group provides advice, focused on the following areas:
- disputes and sanctions
- projects and infrastructure
- investment funds
In particular we have been a leading force in the Iranian oil and gas sphere, having advised international clients on a broad range of transactions relating to the development and commercialisation of Iranian oil and gas projects as well as secondary M&A deals. This has included advising on LNG projects, buyback contracts, service contracts, gas supply agreements, farm-in agreements, system participation agreements, pipeline crossing agreements, shareholder agreements and sale and purchase agreements. We have also been at the forefront of the Iranian Power Industry, with extensive experience of advising sponsors and financers of power plant projects, with particular expertise in advising on and developing novel Islamic Finance structures.
We have also been advising international corporations on their Iranian disputes, sanctions issues and risk advisory matters, including providing strategic advice on mitigating and managing business risks, both before and during the implementation of Iranian sanctions. We have witnessed the evolving landscape of legal and commercial risks in relation to Iran, and have assisted numerous international corporations on navigating their businesses with respect to the application of Iranian sanctions.
Our recent experience includes advising a major energy company on the recovery of their investments following a dispute over termination of a multi-billion dollar oil and gas development project, and the possible effects of EU and US sanctions against Iran on their recovery; a multinational energy company in complex cost overrun and delay disputes with various parties relating to energy projects onshore and offshore Iran worth in excess of US$1 billion and subject to Iranian law; and an Asian bank in relation to US and EU sanctions with regards to payments received from an Iranian Bank, including advising on the proposed restructuring of existing payment arrangements.
We are confident we can assist your business adapt to the changing commercial landscape post Iranian sanctions.
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Please click here to view the latest Key Developments in Iran