Pinsent Masons News

Aberdeen Harbour has appointed Pinsent Masons as legal adviser for its proposed Harbour Expansion Project. Pinsent Masons will advise on procurement, construction, funding, planning, environmental and property issues relating to the £410 million proposed project located south of the existing Aberdeen Harbour. The Nigg Bay facility is included in the Scottish Government’s National Planning Framework 3 (NPF3) and would meet future demand for deep berthing space for oil and gas and renewables sector vessels and could attract larger cruise ships to Aberdeen.

The Maritime Labour Convention (MLC), an international agreement which safeguards the employment rights, working conditions and health care of seafarers, came into force in the UK on 7 August. Shipping and maritime law expert Katie Williams of Pinsent Masons, the law firm behind Out-Law.com, said that although most UK operators were already compliant, vessels operating or passing through UK waters under other national flags could now be at risk of enforcement action. "The Maritime Labour Convention consolidates what has been in place in the UK for some years, but a major change is that for the first time it has an enforcement mechanism with real 'teeth'," she said.

Cash-rich Norwegian private equity firms are eyeing up potential North Sea acquisitions, encouraged by proven management teams and reasonable market prices, claims a leading energy expert. Rosalie Chadwick, a partner in legal firm Pinsent Masons, believes the Scots-Nordic alliance will be strengthened in 2014, echoing a number of investments in recent months, but it won’t be one-way traffic. “There is an increased confidence by Norwegian investors in U.K. oil and gas assets,” explained Chadwick.

The London Stock Exchange (LSE) is forecasting Aberdeen’s booming energy sector will be the source of a new wave of companies heading for an Initial Public Offering (IPO). Renewed confidence and a swathe of foreign investment from South Korea, China and other first-time North Sea entrants has had a knock-on effect on E&P and oil and gas services companies. This newfound vibrancy has directly influenced the LSE’s decision to hold an IPO Forum in Aberdeen this month (Thursday, October 31) bringing together a team of leading capital markets, fund management, accounting and legal experts.

- News comes amid EU attempts to change safety rules. The UK government unit responsible for monitoring offshore safety has become increasingly active in the wake of the Gulf of Mexico oil spill, according to international law firm Pinsent Masons. Energy specialists at the firm say that the number of inspections carried out by the Offshore Environmental Inspectorate (OEI), part of the Department of Energy and Climate Change, have increased by over 70% since 2007. Inspections are also on course to rise by around a third since the Gulf of Mexico spill.

International law firm Pinsent Masons has appointed Bob Ruddiman as Global Head of Energy and Natural Resources, in a move which underlines the firm’s energy industry commitment. Mr Ruddiman was previously Head of Energy at McGrigors which merged with Pinsent Masons on 1 May to create the UK’s 12th largest legal firm. Pinsent Masons has a staff of 2500 spread throughout 15 international locations in the UK and major oil and gas hubs, including Aberdeen, Qatar, Dubai, Singapore, Beijing, Shanghai and Hong Kong.