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Reinaldo Hellmund

Reinaldo Hellmund

Rodriguez & Mendoza

Reinaldo Hellmund is a senior partner at Rodriguez & Mendoza and a member of the corporate group. His practice focuses primarily on oil and gas, financing and lending transactions, the representation of financial institutions and project sponsors, and the development and financing of a wide range of projects, including oil and gas, petrochemical and infrastructure projects in Venezuela.

Mr Hellmund has represented several international oil companies in the structuring of association agreements with Petróleos de Venezuela (PDVSA) for extra heavy crude oil, gas and pipeline projects, and operation agreements for the reactivation of marginal fields; and several service agreements in the oil and gas industry, such as the Corocoro, Hamaca extra heavy oil, Petrozuata extra heavy oil, Hamaca extra heavy oil, Plataforma Deltana, Delta Caribe gas and Jusepin projects. He has represented lenders, underwriters and project sponsors on several of the most important financing, oil and gas, and project finance transactions seen in Venezuela, including Petrozuata, Sincor, Cerro Negro and Hamaca, related to extra heavy oil in the Orinoco belt, each one financed in excess of US$1 billion. In addition, he counselled Siderúrgica Venezolana (Sivensa) and Orinoco Iron in the project financing of the Orinoco hot briquette iron plant. In addition, he has structured the acquisition of several financing institutions in Venezuela.

Mr Hellmund was counsel for Japan Bank for International Cooperation and Japanese banks in the project financing of the Metor (Metanol) project in 2007–2008; for the syndicate of lenders in the US$1 billion loan to PDVSA in 2007, the first lending facility to PDVSA in years; and for the lenders in the restructuring of the project financing of the Sincor, Cerro Negro and Petrozuata projects resulting from their migration to mixed companies pursuant to their nationalisation by the Venezuelan government in 2007–2008, as a result of which three out of four extra heavy oil projects were nationalised. He acted as project counsel for the Venezuelan liquefied natural gas project of VLNG, an offshore gas project that later became the Mariscal Sucre gas project, at that moment an association between PDVSA, ExxonMobil, Shell Oil and Mitsubishi Corporation, including the structuring and design of possible financing structures; and for Marubeni Corporation in the Anaco project for PDVSA (a US$3.3 billion facility). He acts as counsel for Mitsui and Mitsubishi in the Delta Caribe LNG project; for Sivensa and Venprecar in the refinancing of their external debts; for the sponsor in the negotiating and drafting of the Hamaca Association Agreement, which included negotiating the term sheet, defining the corporate structure, negotiating the association agreement and its further modifications, and considering different financing alternatives. He also represents several Japanese and Russian investors in current projects, and actively participates in the Mariscal Sucre and Rafael Urdaneta gas projects, and the Ayacucho, Carabobo and Junin extra heavy oil projects.

He has acted as counsel for the sponsors of many different oil projects, including the negotiation and acquisition of properties, pipelines, project and port facilities, and on pipeline, engineering, procurement and construction, and supply agreements.

Mr Hellmund received his JD from Andrés Bello Catholic University, Venezuela, in 1983. He was admitted to the Caracas Bar in 1983.

He speaks Spanish and English.

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