In an effort to meet the increasing demand for capital-intensive production, the oil and gas industry is using various risk-sharing arrangements, such as joint ventures, production-sharing contracts, outsourcing agreements, undivided interests and co-located assets. These arrangements allow the parties to share costs and risks, leverage economies of scale, access new technologies and customers, and improve access to financial resources.
Additionally, an increasing number of public and national players from foreign countries such as China, India and South Korea have invested billions in North American oil and gas projects — the majority of them joint ventures in Canada and the U.S. Foreign companies will continue partnering with Canadian companies to participate in unconventional oil plays in Canada to further develop their own expertise. Through collaboration with Canadian companies on oil and gas projects abroad, foreign companies hope to acquire the technological expertise that is key to unlocking these resources themselves.
Our private- and public-sector clients, including foreign and domestic oil and gas companies and financial institutions, recognize that properly structuring these arrangements and assuring goals are met require industry knowledge, deal expertise, cutting-edge strategic advice and legal counsel. That's why our clients rely on Blakes, Canada’s No.1 firm in Global Energy Announced in terms of both deal count and deal value, according to Bloomberg and Thomson Reuters league table rankings.
Blakes is at the forefront of the market, with more experience than any other Canadian firm. Our lawyers have played a significant role in most of the major in-bound joint venture energy projects in Canada. We bring efficiency and know-how to each venture, drawing together lawyers with the necessary expertise in all disciplines essential to structuring and executing novel joint venture, co-ownership and partnership arrangements.
With lawyers in key markets worldwide, we have the breadth and depth of expertise in the core practice areas of oil and gas, M&A, competition, tax and project finance, as well as in more specialized areas such as competition and regulatory law. Through our network of offices and integrated technology, we are able to make all of our resources and expertise available to our clients and provide them with seamless access to our diverse experience and "one-stop shopping" for legal services.