Aberdein Considine has bolstered its energy practice with a newly formed team of multi-disciplinary legal experts to help tackle some of the key issues facing the sector.
The team now combines more than 100 years of knowledge of the energy industry, with legal expertise in M&A transactions, equity investment and lending, corporate governance, commercial property, contractual negotiations, employment and dispute resolution.
The new energy practice includes Rod Hutchison - partner and energy sector lead, Ritchie Whyte - partner and head of corporate and business advisory, Gemma Perfect - commercial real estate partner, Nicola Gray - employment partner and Elaine Elder - dispute resolution partner.
Senior associates Danny Anderson and Erin Shand provide additional expertise and support to the team.
Rod Hutchison, energy sector lead at Aberdein Considine, said: “With increased uncertainty around energy, exacerbated by the changes in the fiscal regime and the challenges of the acceleration towards net zero, we wanted to consolidate our extensive experience and hard-won reputation in the industry by establishing a dedicated, specialist energy practice.
“Being headquartered in Aberdeen, it’s a given that we have many oil and gas clients but as they diversify into decommissioning and other forms of energy and our client base grows, extending into renewables, carbon capture and storage, and hydrogen, we are focusing our efforts on being best placed to help them navigate the challenges and opportunities presented by the energy transition and the ever-changing regulatory and fiscal landscape.”
Rod explained that one of the recent challenges, due to increasing fiscal pressures, means oil and gas operators are adopting a more bullish stance on issues such as risk allocation.
“Our clients are being presented with contracts that pass on significantly more risk than would have been customary in the past under the industry’s widely adopted and internationally recognised LOGIC standard contracting regime,” he said. “We act for a lot of SMEs in the energy supply chain and there has been significant uptake by clients seeking advice about framework agreements for the provision of goods and services and we expect to see more of this moving forward.
“We have also seen an uptake in our energy clients engaging with us to carry out a health check on their employment terms and conditions, and employment practices and policies. They are increasingly alive to the fact that being proactive is a sound way to mitigate the potential for disputes and thereby avoid the management time and expense involved in dealing with disputes.”
As the UK supply chain continues to pursue opportunities overseas, the firm is experiencing a significant increase in clients requesting assistance with international expansion plans, including accessing the firm’s extensive network of overseas law firms and professional advisors.
The firm has completed more than 15 M&A transactions and numerous contract negotiations for companies engaged in the energy sector over the past year and it expects this to increase in the next financial year.
Scott Cormack, regional director for Mermaid Subsea Services (UK), an Aberdein Considine client, said: “We had the pleasure of working with Rod and his team on the detailed review and strategic negotiation of a framework agreement for Mermaid’s major North Sea decommissioning programme with an operator. During the project Aberdein Considine showcased their commitment to excellence, attention to detail, and the ability to navigate complex agreements in a highly regulated sector.”
Closer collaborations with organisations like OEUK and Aberdeen Renewable Energy Group (AREG), of which Mr Hutchison is a board director, are an important part of the firm’s drive to grow its energy practice and gain insights and market intelligence to truly understand the issues its client's face.
Ritchie Whyte – partner and head of Corporate and business advisory at Aberdein Considine commented “The formation of our energy team is testament to the firm’s long-term commitment to this sector and our desire to support our energy clients across the full ambit of legal services. Rod’s experience in this sector and connections with industry bodies mean he is well placed to spearhead the team and our ambitious growth plans.”
Following the firm’s recent expansion into Manchester, the energy practice is well placed to support the growing number of green energy companies in the Northeast and North-west of England, which are globally recognised for their concentration of subsea and offshore technology businesses.