Dentons advises Petroceltic on the transfer of its Romanian business

Dentons advised the oil and gas company Petroceltic on the purchase of equity in two Black Sea exploration blocks (40% in EX-27 Muridava Block previously held by a subsidiary of Sterling Resources and 30% in the EX-28 Est Cobalcescu Block previously held by a subsidiary of Beach Energy), in the Romanian sector of the Black Sea. The Firm’s integrated team of lawyers from London and Bucharest further assisted Petroceltic on the transfer of its subsidiary Petroceltic Romania to GVC Investment, a private limited company, which has a considerable involvement in oil and gas in the Black Sea area. Oil and gas Partner Danielle Beggs led the London team. The Bucharest team was led by Partner and Head of the Bucharest Energy practice Claudiu Munteanu-Jipescu, and Partner and Head of Bucharest Litigation and Arbitration practice Tiberiu Csaki, who handled the completion of various claims before the Romanian common and arbitration courts.