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News from Members Dentons Advises Petroceltic on the Transfer of its Romanian Business

Dentons Advises Petroceltic on the Transfer of its Romanian Business

by Dentons June 30, 2015

Website www.dentons.com

Dentons advised the oil and gas company Petroceltic on the purchase of equity in two Black Sea exploration blocks (40% in EX-27 Muridava Block previously held by a subsidiary of Sterling Resources and 30% in the EX-28 Est Cobalcescu Block previously held by a subsidiary of Beach Energy), in the Romanian sector of the Black Sea. The Firm’s integrated team of lawyers from London and Bucharest further assisted Petroceltic on the transfer of its subsidiary Petroceltic Romania to GVC Investment, a private limited company, which has a considerable involvement in oil and gas in the Black Sea area.

Oil and gas Partner Danielle Beggs led the London team. The Bucharest team was led by Partner and Head of the Bucharest Energy practice Claudiu Munteanu-Jipescu, and Partner and Head of Bucharest Litigation and Arbitration practice Tiberiu Csaki, who handled the completion of various claims before the Romanian common and arbitration courts. Senior associates James Langley, Darren Acres, Mark Armitage and Danielle Kent assisted on the London side, while Senior Associates Diana Poputoaia and Andrei Orbesteanu, assisted on the Bucharest side.

About Dentons

Dentons is a global law firm driven to provide clients a competitive edge in an increasingly complex and interconnected world. A top 20 firm on the Acritas 2014 Global Elite Brand Index, Dentons is committed to challenging the status quo in delivering consistent and uncompromising quality in new and inventive ways. Dentons was formed by the combination of international law firm Salans LLP, Canadian law firm Fraser Milner Casgrain LLP (FMC) and international law firm SNR Denton. Dentons' clients now benefit from approximately 2,600 lawyers and professionals in more than 75 locations spanning 50-plus countries across Africa, Asia Pacific, Canada, Central Asia, Europe, the Middle East, Russia, CIS and the Caucasus, the UK and the US. The Firm serves the local, regional and global needs of a broad spectrum of clients, including private and public corporations; governments and government agencies; small businesses and start-ups; entrepreneurs; and individuals.

About Petroceltic

Petroceltic International plc is a publicly quoted oil and gas exploration and production company which currently employs 160 full time industry professionals across multiple disciplines and geographies. Petroceltic is an equal opportunities employer.

The Company is headquartered in Dublin with offices in Edinburgh, London, Algiers, Varna, Cairo and Rome. Petroceltic’s shares are listed on the Alternative Investment Market (AIM) of the London Stock Exchange and on the Enterprise Securities Market (ESM) of the Irish Stock Exchange.

For further information, please contact:
Denisa Lecu, Marketing Officer, Dentons Bucharest
+40 21 312 49 50

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