What are the most significant cases and transactions that your legal team has recently been involved in?

The legal team played its part in the negotiation and signing of a forbearance agreement and subsequently, a restructuring agreement with a majority of our Group’s noteholders, which stabilised our Group’s operations for future development and growth. In addition, we were involved in the negotiation and signing of an agreement with Ural Oil & Gas for the processing of gas at Nostrum’s gas processing facility and the subsequent transport and sale of such gas to third parties.

How do you feel the pandemic has changed the world of work for in-house counsel and the function of the general counsel?

The pandemic has increased the need to rely on and the opportunities to use technology to ensure that there is sufficient interpersonal interaction allowing the exchange of ideas, brainstorming and team building as it is important to ensure the effective working of a legal team and its effective support of the company’s business.

What will be the main focus for the company in the next 12 months and how do you intend to assist with this?

The main focus of the company over the next 12 months will be to build the partnerships with third parties active in the upstream oil and gas sector in the region where Nostrum’s operations are conducted so as to fill, utilise and monetise the company’s world class gas processing infrastructure.

What do you feel are the pros and cons of an in-house legal role compared to a private practice one?

For me the biggest pro of an in-house legal role is that we as lawyers are much closer to the business of our clients, with a much more detailed knowledge of the opportunities for, and threats to, the business than is the case for external counsel. This creates a field of vision that can help us spot issues, head off risks and make a real difference for the business.

One of the cons of an in-house legal role is that it is sometimes seen by certain managers as a cost centre or ‘necessary evil’ rather than as a pillar in building the business. However, a well-functioning in-house legal team should be sufficiently adept at its work and it needs to be properly appreciated by management for its contributions to the company’s success.