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Central Asia, Russia & Caucasus

Vinson & Elkins has represented clients in the region for more than 40 years, providing clients investing both in and out of the region with comprehensive legal and business focused advice, particularly in the energy and natural resources sector.

We have extensive experience in all types of oil and gas-related transactions and have a strong offering across the upstream and downstream arenas, with a particular focus on downstream and petrochemical projects. Our lawyers have advised clients on the acquisition, development, financing, and/or disposal of upstream and downstream assets in virtually every material basin in the region.

A number of our projects are award winning, notably the joint venture among Korean Gas Corp, Lotte Chemical, STX Energy, and Uzbekneftegas on the Surgil upstream gas and petrochemicals project, which has five awards, including being named Project Finance International's "Petrochemical Deal of the Year 2012," Infrastructure Journal's "Oil and Gas Deal of the Year 2013," and The American Lawyer's "Global Finance Deal of the Year: Project Finance (Asia) 2014." 

Additionally, the State Oil Company of the Azerbaijan Republic (SOCAR) has won praise for its development and financing of a $5.3 billion greenfield oil refinery in Turkey, including being named “Middle East and Africa Refinery Deal of the Year 2014” by Project Finance International, “European Oil & Gas Deal of the Year 2014” by IJGlobal, and GTR “Best Deals of 2014”.

Our Russia and Central Asia practice includes international dispute resolution lawyers who maintain an active and extensive arbitration and litigation practice coming out of projects in the region.  

Additional Information

Practice Highlights

  • The joint venture among Korean Gas Corp (KOGAS), Lotte Chemical, STX Energy and Uzbekneftegas, on the development and the Asian Development Bank, KEXIM, and KSure led financing of the approximately $4 billion Surgil upstream gas and petrochemicals project; named Project Finance International's “Petrochemical Deal of the Year 2012”, Infrastructure Journal's “Oil and Gas Deal of the Year 2013”, The American Lawyer's “Global Finance Deal of the Year: Project Finance (Asia) 2014”
  • SOCAR on the development and financing of an approximately $5.3 billion greenfield oil refinery in Turkey on the Aegean Sea; The project has won eight awards, including being named “Middle East and Africa Refinery Deal of the Year 2014” by Project Finance International, “European Oil & Gas Deal of the Year 2014” by  IJGlobal, and GTR “Best Deals of 2014”
  • Eurochem on the construction and financing of an ammonia complex to be located within the existing Phosphorit industrial complex at Kingisepp, in the Russian Federation 
  • SOCAR Polymer on the project financing and development of a polypropylene and high density polyethylene plant, Azerbaijan 
  • OAO NOVATEK on its $1 billion+ sale of a 5% plus block of shares to a Luxembourg securitization company in a transaction arranged and financed by Deutsche Bank AG 
  • Power Mighty Limited on its $139.7 million acquisition through its subsidiaries of all the shares of Caspi Neft TME, a Kazakhstan company, that holds oil and gas production rights and assets in Kazakhstan and intercompany debt owed by Caspi Neft TME