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Media Releases
2006

30 August
2006

Oil companies to seek legal advice following Chad rows

Leading UK legal firm Shepherd and Wedderburn is urging oil and gas firms considering investing in the African market to ensure they take adequate legal advice before investing in these challenging regions. The advice follows a decision by Chad to order two major foreign oil firms out of the country after claims they have refused to pay their taxes.

Shepherd and Wedderburn provides specialist advice to companies wanting to enter the West African market. Dr Leon Moller, a West African lawyer with the firm, believes that with good legal advice, international investors can successfully invest in this growing region.

Dr Moller said: "Despite the fact that the West African region has in recent years been a testing place to do business, the international oil industry has a well-established historical link with most of the region's troubled countries because of the rich endowment of natural resources.

"Investments by international oil and gas companies have always been welcomed in these countries because of the necessary impetus to develop these resources. This incident in Chad is therefore very unlikely to deter companies from investing in areas with high political risk. For example, despite the local problems in Nigeria, Angola and Equatorial Guinea many of the major companies are still looking to do business there".

Shepherd and Wedderburn has developed unique advisory and support services to help oil and gas companies break into the West African market. Dr Moller advises companies considering investing to develop good working relationships with the host government.

"Companies should get adequate advice on the legal implications before investing in West Africa," commented Dr Moller, "They should be well prepared for potential conflicts with these governments who are increasingly under pressure to address the many socio- economic problems affecting their populations. It is therefore important that companies establish workable relationships with the host governments and adhere to their contractual obligations."

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