Cairn Energy PLC targets oil of Nicaragua
Federico Gurdián, Managing Partner of García & Bodán and Regional Director of the Corporate and Transactional practice of said Firm, provided legal advice to Cairn Energy PLC in the process for formal registration and qualification -though a local subsidiary- as a non-operator contractor for oil and gas operations in Nicaragua, all in accordance to Nicaragua’s law and regulation on the exploration and exploitation of hydrocarbons.
Cairn Energy PLC is one of Europe’s leading independent oil and gas exploration and development companies, founded in 1981 and listed on the London Stock Exchange for almost 30 years; with headquarters in Edinburgh and offices in London, Norway, Senegal and Mexico; Cairn Energy PLC has discovered and developed oil and gas reserves in a variety of locations around the world.
Legal services provided by García & Bodán included coordination, revision, formalization and filing of registration, qualification and submission documents, including legal, technical and financial documentation and information to the Ministry of Energy and Mines of Nicaragua (MEM); as well as subsequent meetings with MEM legal counsel and coordination with Legal Adviser and with Commercial Advisor (New Ventures) for Cairn Energy PLC; all in connection to the formal qualification process. Services also included legal counsel in connection to the preparation, negotiation, revision and execution of the contracts required to formalize a farmout agreement with Equinor ASA (previously identified as Statoil, a Norwegian multinational energy company with operations in more than 30 countries worldwide) whereby Cairn Energy PLC, through its local subsidiary, acquired a 35.1% non-operating interest in four blocks of exploration on the Pacific offshore of Nicaragua, identified as blocks C-1, C-2, C-3 and C-4, covering an area of 16,000 km² in the Sandino Basin.