News

I am delighted to introduce HFI’s Establishing, Restructuring and Exiting Local Partner Ventures in the MENA Region eGuidebook which we have launched as we head into Q2 2024 – please see the LPV eGuidebook here.

LPVs play a key role in successful business expansion in the MENA region, and the eGuidebook draws on over 20 years of experience and expertise in establishing, restructuring and exiting LPVs.

The EIC (Energy Industries Council) DataStream project database is now tracking 92 new energy projects for 2023 and 14 energy projects announced from January to March 2024. The market value for the GCC region is US$629 billion for the period to 2030:-

• Oil & Gas (upstream, midstream and downstream) – US$442.6 billion (262 projects);
• Power and transmission/distribution – US$72.9 billion (89 projects); and
• Energy Transition (renewables, hydrogen, CCS, energy storage) – US$113.3 billion (123 projects).

LPVs play a key role in unlocking these energy market opportunities in the region. They are driven by various realities including legal requirements, client procurement policies, local presence and market connectivity advantages, and the ability to lever local capital, facilities and resources. LPVs often take the form of equity-sharing joint venture company initiatives, and the resulting Joint Venture Agreement’s key legal and commercial issues are discussed in outline in the eGuidebook.

HFI’s focus is on the matching of international advanced energy technology and know-how with local partner resources and capabilities which can be combined to build and grow successful ventures in the MENA region. We support clients in sourcing the optimum local partners, formulating commercial terms and conducting the necessary due diligence processes.

We assist clients to pull together win/win LPV contracts addressing key issues such as legal structures and ownership, scope of business, roles and inputs of the parties, financing, management, risk and liability allocation, confidentiality and intellectual property, protective covenants, termination and exits, and governing law and jurisdiction.

We execute and implement the establishment, restructuring and termination of LPVs, and we support clients with the resolution of disputes which arise in relation to their LPVs. Our LPV expertise is available across the full range of territories in the MENA region in conjunction with our local partner network including the UAE, Saudi Arabia, Qatar, Oman, Kuwait, Iraq and Egypt.

We will be featuring our LPV Solutions and Services at Middle East Energy 2024 in Dubai and World Future Energy Summit 2024 and look forward to launching our Oman Ventures Initiative eGuidebook in conjunction with Oman Petroleum & Energy Show 2024 in Muscat, all coming up in April.