Natural Resource Projects

S&C is the only major international projects law firm where natural resources constitutes the major part of our projects work. Dealogic, which maintains the leading project finance database, ranks S&C first in representing sponsor/borrowers in completed natural resource projects from 1999 through 2010. We know the markets, the players and the precedents. We can complete large oil, gas, pipeline, refining, petrochemical and mining transactions more efficiently than any other firm.

Mining and Metals Sector

• Sullivan & Cromwell was involved in 10 of the 10 largest mining projects across the globe in terms of total capital value (Dealogic).
• Recently S&C advised on:
  • the largest-ever mine project in Latin America to successfully close (Minera Esperanza);
  • the largest greenfield mine financing to date, the first JBIC project financing in Africa, the first ever Kexim co-financing and the first financing signed under Madagascar’s new mining law (Ambatovy);
  • the largest single commercial financing to date for any project in the Gulf and the first large scale industrial project between the two Emirates, expected to be the largest single site aluminum smelter in the world (Emirates Aluminium);
  • the largest metals project signed to that point and the largest project across sectors in Australasia (Fortescue, representing the underwriters); and
  • the largest metals project to sign in China (China Minmetals).
• Third-party publications and league tables consistently award the mining projects S&C works on as Deals of the Year. Recently honors were given to:
  • Boleo Mining (Mexico): Exploration and Development Funding Award (Mining Journal)
  • Esperanza Copper, Gold and Silver (Chile): Americas Mining Deal of the Year (PFI)
  • Emirates Aluminium (UAE): EMEA Industry Deal of the Year (PFI); Middle East Manufacturing Deal of the Year 2007 (Project Finance) 
  • Ambatovy Nickel and Cobalt (Madagascar): EMEA Mining Deal of the Year (PFI); African Mining Deal of the Year (Project Finance) and one of the Deals of the Year 2007 (Trade Finance) 
  • Fortescue (Australia): Deal of the Year (The Mining Journal); Asia-Pacific Mining Deal of the Year 2006 (Project Finance)

Oil and Gas Sector

• S&C has been involved in many of the largest upstream and midstream oil and gas projects ever completed. This work includes:
  
  • the largest project financing to ever be signed (PNG LNG);
  • refinancing of the Gulf's first major cross-border energy project and largest financing in the region this year (Dolphin Energy project);  
  • the largest business venture and foreign direct investment in Yemen’s history (Yemen LNG);
  • the largest oil project in Latin America (Sincor heavy oil project);
  • the largest oilfield project in the CIS (Tengiz oilfield expansion);
  • the largest pipeline to be successfully completed in the CIS (BTC pipeline);
  • the largest Canadian/US pipeline (Alliance pipeline);
  • the first externally financed pipeline in Ecuador (OCP pipeline);
  • the first Caspian upstream petroleum financing (AIOC Early Oil);
  • the first extra heavy oil project in Venezuela and the first project bond for an oil and gas project in Latin America (Petrozuata);
  • the largest financing completed in Colombia (Ocensa pipeline); and
  • the first oil, gas and pipeline development in Papua New Guinea (Kutubu).
• Ongoing work in the oil and gas sector includes the largest pipeline financing ever contemplated in the United States (Alaska natural gas pipeline).
• S&C offers seasoned advice that enables sponsors and lenders to mitigate and manage the risks of large and complex project investments.