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NEW YORK, NY — June 21, 2005 – LAWFUEL – Chadbourne & Parke LLP rep…

NEW YORK, NY — June 21, 2005 – LAWFUEL – Chadbourne & Parke LLP represented a consortium led by Chile’s state oil company, ENAP, in connection with an agreement to finance, build and operate a US$430 million delayed coker unit at its Aconcagua refinery in Chile.

The project will be financed by a US$410 million, 15-year syndicated bank loan arranged by BNP Paribas, Citigroup and Calyon, and is expected to be viewed as a benchmark deal in Chile due to its size, terms and tenor.

ENAP and the other sponsors, Germany’s Ferrostaal and Spanish firms Foster Wheeler Iberia and Técnicas Reunidas, will provide up to US$20.4 million to cover the remaining investment in the project. ENAP and its refining unit ENAP Refínerias will have a combined 49% stake in special purpose company Energía Concón (Enercon), and Ferrostaal, Foster Wheeler and Técnicas Reunidas will each hold 17%.

The unit will have a processing capacity of 20,000 barrels of crude a day. The project aims to increase the Aconcagua refinery’s capacity to process heavy crude and produce cleaner gasoline, diesel and liquefied petroleum gas (LPG) to meet increasing demand in Chile’s capital city Santiago.

Construction will start this year and operations are scheduled to start in the first half of 2008.

Chadbourne attorneys working on the deal included Latin America practice partner Alejandro San Miguel, Latin America counsel Carlos Albarracín and associate Karen Bailey.

About Chadbourne & Parke LLP
Chadbourne & Parke LLP, an international law firm headquartered in New York City, provides a full range of legal services, including mergers and acquisitions, securities, project finance, corporate finance, energy, telecommunications, commercial and products liability litigation, securities litigation and regulatory enforcement, white collar defense, intellectual property, antitrust, domestic and international tax, reinsurance and insurance, environmental, real estate, bankruptcy and financial restructuring, employment law and ERISA, trusts and estates and government contract matters. The Firm has offices in New York, Washington, D.C., Los Angeles, Houston, Moscow, Kyiv, Warsaw (through a Polish partnership), Beijing and a multinational partnership, Chadbourne & Parke, in London. For additional information, visit www.chadbourne.com.

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