About

Number of years practice:

26

Principal practice areas:

Energy

Bar admissions:

Colegio de Abogados del Distrito Federal, Venezuela

Languages spoken:

English, Spanish, Portuguese

Vera De Brito de Gyarfas specializes in transactions involving energy projects in Latin America and Africa. A partner in the corporate finance and investments practice, de Gyarfas represents companies engaged in all kinds of energy projects, handling negotiations of host government agreements as well as commercial agreements among companies in English, Spanish and Portuguese. She represents companies in upstream exploration and production, liquefied natural gas and other natural gas projects under all types of host government agreements, including production sharing agreements, concessions/licenses, and operating services agreements. She also advises companies with respect to power projects, generation, transmission and distribution facilities, and advises petrochemical companies in developing specialized plants. With particular experience in LNG, she negotiates and drafts investment agreements for host governments and other parties, analyzes existing regulations and government negotiations, and completes agreements for LNG sales and purchases, gas supply, and terminal usage, among others. De Gyarfas is especially focused on Mexico where she recently represented Sierra Oil & Gas in the negotiation of its joint operating agreements for five blocks and subsequently in the integration of Sierra Oil’s business with Wintershall DEA, which was the first major M&A upstream transaction in Mexico under the Energy Reform.

I worked for 17 years in Venezuela representing major companies first in the oil and gas opening of the 1990s, then represented those same companies in the indirect expropriation of their assets by the Chavez government in 2006/7 and finally represented some in international arbitrations against the government of Venezuela. I have lived the full cycle of energy investments and my expertise has proved very useful in representing companies currently developing projects in Mexico and the recent energy reform. My civil law background allows me to anticipate issues for international clients investing in Mexico, dealing with the Mexican counterparts and in general terms negotiating in a manner that is very aware of the culture and the language.

What are the advantages and disadvantages of advising Mexico-based clients from an office in the United States?

The advantage is that Houston is very close to Mexico City (closer than New York, for example) and it is also the energy capital of the world. Most investors have offices in Houston and decisions are made here so it is undoubtedly an advantage. Also, we have excellent working relationships with many firms in Mexico which are full service firms and we work very well with them when we need to specifically address local law issues. We prefer to refer clients to local firms, rather than compete with them.

What changes in the commercial and/or legal market do you anticipate in the 12 months ahead in Mexico?

Mexico is currently in a transition. The new president has made a number of announcements that have had impact an impact on new investments in energy projects and the foreign investors are waiting to see what will happen. The energy reform successfully resulted in the execution of 107 CNH contracts (upstream) which are at different stages – exploration and evaluation mainly – so there will be lots of work in this area while operators commence operations in Mexico. The solid legal basis of the energy reform is a guarantee that there will not be any major legal changes, only certain administrative changes as a result of the new administration’s emphasis on strengthening PEMEX and CFE.

What influence will legal technology have on US/Mexico working practices in the future?

Mexico, like most Latin American jurisdictions, is very relationship-oriented and contact with the clients is absolutely a must. I do not see a lot of change occurring with respect to legal technology that will have an impact on our work in Mexico.

What is your perception of in-house counsel’s priorities in terms of client service when working with US-based law firms?

In-house counsels need timely and accurate responses to issues and problems as they arise, so the fact that US-based law firms can address these issues and problems without necessarily engaging local counsel is a great advantage. Diverse teams with regional attorneys that can quickly respond to clients are a must.