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CMS Advises Shell and Repsol on Partial License Transfer of Khan Kubrat Block

CMS Advises Shell and Repsol on Partial License Transfer of Khan Kubrat Block

Bulgaria
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CMS has supported both Shell and Repsol on negotiations for and the transfer of 20% of Shell’s interest in the Khan Kubrat block, offshore Bulgaria, to Repsol Bulgaria Khan Kubrat S.A

According to CMS, the farm-out transaction was approved by the Bulgarian Government on February 20, 2019, thus allowing Shell to hold 50 % of the interest in the Khan Kubrat block, with Woodside holding 30% and Repsol holding the remaining 20% in the permit.

CMS advised Shell as of the start of the project, the acquiring of the permit for prospecting and exploration and on its subsequent transfers. CMS also advised Repsol during the transaction including on various corporate, regulatory, and tax matters. 

CMS's teams were coordinated by Partner Kostadin Sirleshtov and included Associate Denitsa Dudevska, who was a CMS project manager for Shell, and Associate Raya Maneva, a CMS project manager for Repsol.   

CMS at a Glance

CMS Sofia is a full-service law firm, the largest international law firm in Bulgaria and one of the largest providers of legal services in the local market as a whole. The breadth and depth of our practice means that our lawyers are specialised, with a level of specialisation that few of our competitors can match.

CMS Sofia is the Bulgarian branch of CMS, a top ten global legal and tax services provider with over 5000 lawyers in 43 countries and 78 offices across the world.

CMS entered the Bulgarian market as one of the first internationally active law firms in 2005 and is now among the most respected legal advisors in the country. We have 7 partners, 4 counsel and over 30 lawyers in our office in Sofia.

Our legal experts, who are rooted in Bulgaria’s local culture, can also draw on years of experience in foreign countries and are at home in several legal systems at once. We know the particularities of the local market just as well as the needs of our clients and combine both to achieve optimum solutions. Our lawyers are Bulgarian qualified and we also have English qualified experts – all of them regularly working on cross-border mandates.

In our work, we focus on M&A, Energy, Projects and Construction, Banking and Finance, Real Estate, Media, IP and IT law, Tax, Employment law, Competition, Procurement and any kind of Dispute resolution, including arbitration and mediation. What’s more, we also take care of the entire legal management of our clients’ projects.

Firm's website.