Property and Construction Team of the Year: Pinsent Masons
The judging panel was impressed with Pinsent Masons' work advising China Petroleum Engineering & Construction Corporation (CPECC) on the engineering, procurement and construction of the Habshan-Fujairah Pipeline, which runs from Habshan, in Abu Dhabi, to Fujairah.
June 14, 2012 at 07:03 PM
2 minute read
Finalists 2012: Galadari & Associates; Hadef & Partners; Norton Rose; Pinsent Masons; Shearman & Sterling
The judging panel was impressed with Pinsent Masons' work advising China Petroleum Engineering & Construction Corporation (CPECC) on the engineering, procurement and construction of the Habshan-Fujairah Pipeline, which runs from Habshan, in Abu Dhabi, to Fujairah.
Pinsents was singled out for its project management skills and client care in a deal that involved the cross-cultural challenges associated with advising local and Chinese clients.
The project, which is valued at $3.3bn (£2.1bn), is of major strategic importance to the region as it will transport crude oil from Abu Dhabi's oil fields directly to the Indian Ocean, thereby offsetting the reliance on oil terminals in the Arabian Gulf and reducing shipping congestion through the Straight of Homuz.
A feature of the project was the engineering challenges associated with building a pipeline through desert and mountainous terrain. Pinsents began work on the Habshan-Fujairah Pipeline in 2009 and the project is about to become operational.
Work on the deal drew on Pinsents' construction, engineering and litigation expertise, while the fact that a Chinese company was involved led the firm to draw on the resources of its Chinese practice.
In order to effectively handle the myriad of contractual and sub-contractual issues involved in the project, Pinsents deployed a contractual analysis mechanism it has developed dubbed 'the traffic light analysis'. The system is designed to identify areas of contractual risk and then develop mitigation measures.
The deal was managed out of Pinsents' Dubai office. The firm says its Middle East team of 25 construction specialists stands out from other construction practices in the region because it generates its own work, rather than acting in support of other groups.
On the contentious side, the team is acting on one of the largest arbitration disputes in the region with a value of DH4.5bn (£791m).
Over the last 12 months the team's revenue has increased by 25%.
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