We want to share the news that was published in Latin Lawyer about our intervention in Camisea Project
Cárdenas advises in Camisea expansion
Wednesday, 22nd June 2011. By Joe Rowley
Argentina´s Cárdenas, Di Ció, Romero & Tarsitano has helped Pluspetrol Perú and the Camisea consortium close a series of deals to enhance facilities at the Camisea gas project in Peru. The deals include the signing of an engineering, procurement and construction contract with Spain´s OHL Industrial and its Peruvian subsidiary for the expansion of the Camisea Project´s fractionation plant facilities. The US$126 million contract was signed in January and announced at the end of May after the signing of the closing documents, and saw OHL rely upon in-house counsel.
A second deal saw Cárdenas Di Ció close a contract with Siemens Nederland to supply two turbo compression trains for the Camisea well-head expansion project. Siemens relied upon in-house counsel in the deal, which closed on 16 May and was worth US$62 million. A third deal saw the firm sign a deal with extraction services company Serpetbol Perú for the construction of flow lines between Mipaya, Nuevo Mundo and Pagoreni valued at US$55 million. The deal closed on 18 May, with Serpetbol also drawing upon in-house counsel.
Cárdenas Di Ció partner Alfredo Vítolo advises Pluspetrol in the negotiation of all major infrastructure contracts. He says the Buenos Aires-based firm was given preference over Peruvian firms due to its experience working on complex infrastructure contracts under civil law systems, as well as its previous work with the company in the bidding process for the Camisea Project in 2000.
"Since then we have advised Pluspetrol as operator for the consortium that was awarded licences in all infrastructure work contracts worth more than US$2 billion," he says. "In this deal we received help from Pluspetrol´s in-house attorneys, both in Buenos Aires and Peru, and because the negotiating team from the company has been usually based in Buenos Aires, this may have been one of the reasons that led to our hiring with preference to local Peruvian firms."
Vítolo says that the three contracts, although independent, were "interrelated to the extent they are part of the expansion of the Camisea Field Project", but could not comment further due to confidentiality agreements with Pluspetrol.
Camisea is the largest gas-producing field in Peru and has been in operation since 2004.
Counsel to Pluspetrol Perú and the Camisea consortium
Cárdenas, Di Ció, Romero & Tarsitano Partner Alfredo Vítolo