Law firms have been moving fast to answer clients’ Venezuela questions after the US removal of President Nicolás Maduro. The questions they are helping clients with include the prospect of energy investments.
Venezuela is a “tantalizing prospect” for oil companies seeking to expand their asset base given the country’s proven crude oil reserves and share of global oil resources, Bracewell’s Scott Segal told Bloomberg Law.
“One specific barrier to investment and contracting is the real ambiguity about governance in Venezuela after regime change,” Segal said. “Addressing that ambiguity requires an energy law firm to be well connected with policy makers and experienced in past changes in government.”
