Marcelo Frazão is a partner in the Corporate & M&A practice of Tauil & Chequer Advogados. He advises Brazilian and foreign clients on matters related to shipping, oil and gas and infrastructure projects. Marcelo has extensive experience in mergers and acquisitions, finance and oil and gas and energy projects involving ships, maritime terminals and offshore works. His practice Includes projects with floating storage regasification units (FSRU), floating production storage and offloading units (FPSO), drilling rigs, support vessels and subsea construction. He also has deep experience in advising Asian investors with interests in Brazilian projects and deals.
Some of his distinguished clients and engagements have included the below.
Projects and Deals
- Advised a global shipowner with respect to the provision of a Floating Storage Regasification Unit (FSRU) for the Thermal Power Plants of Gás Natural Açu (GNA) in Açu Port, located at São João da Barra, Rio de Janeiro, which will be Latin America’s largest natural gas-fired thermal power plants.
- Represented an international oil company with respect to FPSO contracts in a M&A transaction to acquire participation interests in an oil and gas field in Brazil under production, for the total amount of US$665 million.
- Advised the winner of a bid proceeding from Petrobras for the charter and operation of the third floating production storage and offloading (FPSO) unit to be employed at the ultra-deepwater Mero field (Mero 3), offshore Brazil.
- Assisted a global offshore construction company in its Engineering, Procurement, Construction and Installation Contract with Petrobras for the installation of the oil export pipeline system of the first phase of the Sepia field.
- Represented one of the largest offshore drilling contractors in the world in a potential M&A transaction involving the sale by auction of four offshore drilling units under construction at the shipyards Jurong Aracruz and Keppel FELS Brasil, in connection with a judicial recovering procedure.
- Represented a global offshore construction company on regulatory and contractual work for a SURF contract with Petrobras in excess of BRL$ 1 billion.
- Represented an offshore drilling contractor in the acquisition of two offshore drilling units from Petrobras in a multi-million dollar auction.
- Represented a Brazilian shipyard in a renegotiation of an EPC contract in excess of US$ 1.5 billion for the supply and integration of modules of two Floating Production Storage and Offloading vessels – FPSO.
- Represented a US-based client in Brazil in the structuring and licensing of a floating cement terminal in Brazilian inland waters.
- Represented a top-tier tanker company in the development of its first project in Brazil.
- Represented a large oil and gas service provider in the restructuring of its FPSO business.
Financing and Restructuring
- Advised an offshore contractor in a restructuring transaction to equitize nearly USD 4.6 billion in debt. The restructuring transaction was implemented through a prepacked Chapter 11 process that was financed by a debtor-in-possession financing facility of USD 2.81 billion.
- Advised a global offshore construction company in a financing of USD 1.7 billion to fund working capital and support the issuance of performance guarantees on new projects.
- Advised a Norwegian investment fund in a financial workout involving a fleet of support vessels operating in Brazil.
- Represented an offshore contractor in Brazil on a syndicated loan with the participation of a Norwegian export credit agency in excess of US$ 940 million for the construction and operation of two drilling ships.
- Represented a global shipping fund on a multilateral finance for the construction of a fleet of Brazilian-flagged offshore support vessels.
- Represented an offshore contractor in Brazil on a syndicated loan of approximately US$ 575 million for the construction and operation of a semi-submersible drilling rig.
- Represented a global shipping company on a multi-million dollar bilateral finance for the acquisition of four tankers and bulk carriers.
- Represented an oil and gas service provider on a multi-million dollar bond issuance.
- Represented an oil and gas service provider on a multi-million dollar private placement, including negotiation of shareholders agreement and joint-venture documentation.
- Represented the main international trade association for merchant shipowners & operators and one of the largest ship registers by tonnage in an amicus curiae case before the Brazilian Superior Court of Justice concerning the validity and enforcement of foreign ship mortgages in Brazil – OSX-3 Case.
- Represented a large shipowner of offshore vessels in a commercial dispute in Brazil concerning Brazilian preference laws and regulations favoring the chartering of Brazilian-flagged vessels.
- Represented an European bank in the repossession and re-exportation of an FPSO unit operating in Brazilian waters.
- Represented a major FPSO operator in legal proceedings with the Brazilian Maritime Tribunal concerning maritime incidents and application of Brazilian maritime regulations.
- Represented a shipping agent in a ship recycling transaction to lift suspensions imposed by the Brazilian Navy and Brazilian Environmental Agency for the sail of a Brazilian tanker to international waters.
- Represented shipowners and oil and gas service providers in several charter party disputes against national and international oil and gas exploration and production companies operating in Brazil.
- Represented an European ship finance bank in the repossession of two offshore support vessels operating in Brazilian waters.
London School of Economics and Political Science, LLM
Universidade Federal Fluminense (UFF), Bachelor of Law (JD equivalent)
- Member, Brazilian Association of Maritime Law
- Member, Norwegian-Brazilian Chamber of Commerce