18 March 2013
Clifford Chance to serve as legal advisor for Vung Ro Petroleum's Vietnam refinery project
Singapore: Leading international law firm Clifford Chance has been appointed by Vung Ro Petroleum Limited to advise on the structuring and legal aspects of the development of the 169,000 bpd Vung Ro Refinery Project in Vietnam's Phu Yen province.
The project, located on the south central coast of Vietnam, will include a deep sea oil terminal and general cargo port. The plant is designed to produce over 7.2 million tons of refined and petrochemical products annually for the fast-growing Vietnamese domestic market as well as for export. Project costs are estimated at over US$3 billion.
Partner Geraint Hughes, Head of Energy and Resources for Asia said, "We are pleased to be working with the Vung Ro Petroleum team on this important project.”
The award winning Clifford Chance team has extensive experience in developing similar projects. Geraint and partner Ting Ting Tan will lead the team, assisted by a strong team of sector specialists including counsel Matthew Buchanan in construction, and senior associate Anton Trixl and associate Catriona McHattie in energy and resources.
Vung Ro Petroleum is the first wholly foreign-owned entity to have been granted an investment certificate by the government of Vietnam authorising it to process and produce petroleum and petrochemical products as well as to store, transport, export and import such products.
Vung Ro Petroleum targets project financial close in late 2013, in order to commission the Project in 2016.
VILAF will be providing Vietnamese law advice to Vung Ro Petroleum. StormHarbour is Financial Adviser to Vung Ro Petroleum.