Rebecca Downes
Rebecca focuses her practice on oil and gas, advising a broad range of clients on a variety of transactional matters across key areas of the oil and gas value chain, including upstream (conventional and unconventional resources), midstream, LNG and oilfield services.
She has a particular focus on gas and LNG sales and trading arrangements, upstream acquisitions, project development activities, gas storage, concessions, joint venture arrangements and royalty agreements. She regularly represents international oil companies, independent exploration and production companies and state-owned entities, among others.
Practice Area
Panel
- Contributing Author
Qualified Year
- 2011
Membership
- Law Society of England and Wales
- Association of International Petroleum Negotiators
Education
- BPP Law School, Legal Practice Course, 2008
- University of Durham, LLB, 2007
1 Contributions by Rebecca Downes
PRACTICE NOTES
Legal Guide to Crude Oil, Natural Gas and LNG Sales and Trading: Physical Supply, Derivatives, Incoterms, Market Hubs (NBP/Beach) and Standard Forms (ISDA, EFET, AIEN)
An Introduction to Oil & Gas Sales and Trading
States grant businesses the right to search for and extract hydrocarbons (crude oil and natural gas) within a specified area under a concession. Those holding the concession commonly set out their mutual duties and rights for activities under that concession by agreeing a joint operating agreement (JOA). Where exploration, appraisal, development and production succeed, crude oil and natural gas are brought to the surface. For further detail on JOAs and concession arrangements, see Practice Notes: The purpose and the principles of the joint operating agreement and Understanding upstream petroleum agreements—concessions, production sharing contracts and service contracts. For more on the AIEN (formerly known as the AIPN) Joint Operating Agreement, consult the textbook: The AIPN Joint Operating Agreement: A Practical Guide.
Physical v Non-physical (or Virtual) Sales and Trading
A JOA will usually expressly exclude the marketing and sale of hydrocarbons from its scope. Each concession holder will therefore typically put in place separate arrangements to monetise its entitlement to hydrocarbons produced and lifted from the concession area...
Energy
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