Houston – Bracewell LLP represented Phillips 66 in the formation of 50/50 joint venture, Bluewater Texas Terminal LLC, with Trafigura Group Pte. Ltd. to develop an offshore deepwater port project in the Port of Corpus Christi.
The Bluewater Texas Terminal will consist of up to two single point mooring buoys capable of fully loading very large crude carriers to export crude oil to global markets. The joint venture partners will make a final investment decision on the project later this year.
Phillips 66 is a diversified energy manufacturing and logistics company. With a portfolio of midstream, chemicals, refining, and marketing and specialties businesses, the company processes, transports, stores and markets fuels and products around the world.
Bracewell lawyers involved in this transaction included:
Partners: G. Alan Rafte, George D. Fatula, Elizabeth L. McGinley, Steven J. Lorch and Jason B. Hutt
Senior Principal: Joshua C. Zive
Associates: Patrick K. Johnson, Shannon M. Rice, Kevin M. Voelkel and Kathryn F. Penry