As we round up our tour of the region’s legal markets following the publication of the 18th edition of Latin Lawyer 250, today we look at Venezuela.
With the management of Colombia and Venezuela’s state-owned oil companies deep in talks to establish a joint venture to increase production at four oil fields in the Orinoco Belt, Ecopetrol says it will soon begin approaching law firms in Venezuela for counsel, while revealing it is unlikely to look outside the two countries for further legal advice.
The Venezuelan government and PDVSA have reached a settlement with US oilfield services providers over the nationalisation of their Venezuelan subsidiaries, in which the companies agreed to suspend an arbitration at ICSID.
Throughout the week,
Latin Lawyer has announced the winners of its annual ‘Deal of the Year Awards’ for 2008.
Venezuelan firm Lapadula Esteban Cadenas Abogados has hired three partners from rival Rodner, Martínez y Asociados.
US oil drilling contractor Pride International is selling off its Latin American land drilling and E&P service businesses to Brazilian private equity group GP Investments.