Priyank Srivastava

Director

  • Priyank Srivastava
  • Phone: +65 6311 0074
    Fax: +65 6311 0058

    Import to Address Book

  • Duane Morris & Selvam LLP
    16 Collyer Quay #17-00
    Singapore 049318
  • Duane Morris & Selvam (Myanmar) Limited
    Kantharyar Centre Office Tower, Unit no. #18-01
    No.11, Corner of Kan Yeik Thar Road & U Aung Myat Street, Mingalar Taung Nyunt Township
    Yangon, Myanmar

Priyank Srivastava is a Director in the Corporate and Energy practices with over 12 years’ experience advising in the energy and Project Development/Infrastructure/P3 sector. Mr. Srivastava focuses his practice on upstream, midstream and downstream oil and gas/LNG matters and the power sector. Having worked for over eight years at India’s largest exploration and production company, he is familiar with all the transactional aspects of global energy projects.

A client has provided the following testimonial about Mr. Srivastava: “We have known Priyank for almost a decade now. We have seen him handle Energy, Oil & Gas matters and a large variety of corporate matters with the highest degree of professionalism. Priyank is an excellent lawyer and carries a wide scope of commercial sense, wisdom and experience. Lawyers working in the oil & gas sector require both legal regulatory as well as industry experience, and Priyank is one of the rare professional lawyers, having the combination of both.”

Mr. Srivastava has considerable on-the-ground experience of advising clients in various sectors in Myanmar, including energy and power projects, infrastructure, telecom and project financing matters. He has rich experience of the local regulatory regime of Myanmar and has been actively involved in dealing with various government authorities.

Mr. Srivastava’s core areas of practice include cross-border mergers and acquisitions transactions in relation to oil and gas and energy and infrastructure projects. His practice covers acquisitions, joint ventures, project development and project finance within the oil and gas, mining, power and infrastructure sectors. He is fluent in Hindi and English and knows elementary Burmese and Spanish.

 

Areas of Practice

  • Energy & Infrastructure

  • Banking & Project Finance

  • Corporate & Commercial

  • Regulatory

Representative Matters

  • Advised Htoo Group of Companies on their joint venture with Banyan Tree Holdings.
  • Advising a PRC foreign licensed bank in Myanmar on a term loan facility of US $12 million and the regulatory aspects of non-performing assets in Myanmar.
  • Advised Shwe Minn Gan Finance Company Limited, a Myanmar non-banking financial institution, on structuring its collaboration with Rent2Own.
  • Advised a foreign licensed bank on its short-term revolving credit of MMK 7.5 billion (US$5.2 million) to a Korean micro-financing company in Myanmar.
  • Advised on the Myingyan IPP, a 225MW Combined Cycle Gas Turbine Power Plant located in Myingyan District, Mandalay Region, Myanmar and its subsequent project financing - Project Finance International (PFI) and IFLR Asia Awards for ‘Asia-Pacific Deal of the Year 2017’ and ‘Project Finance Deal of the Year 2018’, respectively.
  • Advised Singapore subsidiary of PRC oil and gas company PetroChina in the acquisition of a stake in terminal storage facilities in the Union of the Republic of Myanmar.
  • Advised a foreign licenced bank on its short-term revolving credit of US$2.5 million to a foreign company dealing with construction material in Myanmar.
  • Advising one of the largest Indian oil & gas exploration and production company in connection with its envisaged novation in the joint venture for the Myanmar-China border gas pipeline project.
  • Advising a Myanmar conglomerate on its joint venture with a multinational oil and gas company for a concession to conduct onshore oil and gas exploration operations in Myanmar, including advising on the terms of an envisaged novation to the joint operating agreement between the parties.
  • Advised a Singapore company with its envisaged venture involving power-to tower project in Myanmar. Involved with negotiations on the Master Services Agreement and advising the client on regulatory and compliance matters.
  • Led the legal aspects of the acquisition of a 15% stake in Vankorneft from Russian oil producer Rosneft for US$ 1268 million, involved complex structuring and checking on sanction compliances.
  • Advised on a transaction involving 100% acquisition of Videocon Mozambique Rovuma 1 Limited for US$ 2.4 billion and on acquisition of 10% direct participating interest in the Rovuma Area 1 offshore block in Mozambique from US firm Anadarko Corp for US$ 2.6 billion.
  • Acted for the largest Indian oil & gas exploration and production company in connection with its acquisition of participating interest in the Azeri-Chirag-Gunashli contract area in Azerbaijan for approximately US$ 1 billion.
  • Acted for the largest Indian oil& gas Exploration and Production Company on its exercise of pre-emptive rights for buying additional stake in a Brazilian oilfield.
  • Advised one of the largest Indian oil & gas companies on LNG sale and purchase agreements and issues connected thereto.
  • Advising a foreign development finance agency on its first US$250 million project financing of a telecommunications project in Myanmar.
  • Advised a large Indian oil & gas company with its setting up branch office in Myanmar and on related regulatory and compliance matters.
  • Assisted the committee under UMFCCI, Myanmar with preparation of a paper of the power sector, Myanmar. The paper highlighted the challenges and suggestions towards having a regulatory framework and standard template documents for the power sector in Myanmar. Key points towards tendering guidelines for power projects and provisions for legal documentation for instance the Power Purchase Agreement(s) were advised.
  • Represented clients with deregistration of its branch and representative office in Myanmar and advised on regulatory and compliance matters.
  • Advised an e-commerce shopping portal on regulatory and compliance matters and with its potential restructuring.
  • Acted for a Myanmar conglomerate with its settlement of disputes to the tune of US 300,000 with its foreign joint venture partner, involved with operating and management of a food & beverage franchise.
  • Advised a Japanese entity on regulatory and compliance matters in connection with a potential hydro-power project in Myanmar.
  • Advised on a syndicate project financing transaction of up to an aggregate of US$ 20,000,000 involving a Singaporean Bank and a local Myanmar bank.
  • Advised on regulatory and compliance aspects of dual-currency product transaction between a Singapore Bank and Myanmar local bank.
  • Acted for a Myanmar conglomerate with its US$ 13.5 million financing transaction for its hotel & resort venture in Myanmar.
  • Advised an Indian oil & gas company on tax implications arising out of an envisaged acquisition of participating interest in an offshore oil & gas block in Myanmar.
  • Advised potential investor(s) on regulatory & compliance requirements for renewable energy power project(s) in Myanmar.
  • Advised a conglomerate on the legal aspect of a sovereign guarantee in Myanmar.

Admissions

  • India

Education

  • National Law School of India University, Master in Business Laws, 2010
  • Symbiosis Law School, B.S.L./LL.B., 2007

Experience

  • Duane Morris & Selvam LLP
    - Director, 2020-present
    - Special Counsel, 2018-2020

  • Allen & Gledhill (Myanmar) Co. Ltd.
    - Senior Foreign Associate, 2015-2018

  • ONGC Videsh Limited
    - Deputy Legal Adviser, 2012-2015

  • ONGC Ltd.
    - Legal Adviser, 2007-2012

Honors and Awards

  • Listed by IFLR1000 2020 as Highly Regarded Lawyer for M&A
  • Listed by The Legal 500 Asia-Pacific 2020 as a Recommended Lawyer in Corporate and M&A – Myanmar
  • Listed by The Legal 500 Asia-Pacific 2020 as a Recommended Lawyer in Projects (including Energy) – Myanmar
  • Listed by The Legal 500 Asia-Pacific 2020 as a Recommended Lawyer in Projects & Energy (Local Firms) – Singapore

Selected Publications

Selected Speaking Engagements

  • Panelist, "Renewable Energy Opportunities in Vietnam and Southeast Asia" Event, Singapore, November 20, 2019
  • Moderator/Panelist, "Myanmar Market Insights Seminar", Singapore Business Federation, Singapore, July 4, 2019
  • Moderator/Panelist, "Meeting the New Tender and After-Tender Challenges for Myanmar's Offshore Exploration & Production", Myanmar Offshore Summit Conference & Exhibition, Myanmar, May 7, 2019

  • Organized a workshop for government officials from the Attorney General of the Union of Myanmar’s office and other Ministry(s),”The local legal landscape and international best practices in the projects and project financing sector” in Nay Pyi Taw, Myanmar, April 3, 2019