| September 2, 2011

Using Securitization Techniques to Finance Oil and Gas Contractors in Brazil

We have previously written in these pages on the potential opportunities generated by the oil and gas reserves in the Pre-Salt Layer along Brazil’s coast, as well as the possible challenges facing financing of such projects because of potential environmental liability. Exploration and development of the Pre-Salt Layer presents opportunities not only for state run companies such as Petrobras, but also private companies and especially those upstream and midstream contractors, such as drill ships, deepwater subsea trees and tie-in systems and pipeline systems to name a few.

This memorandum is intended only as a general discussion of these issues. It is not considered to be legal advice. We would be pleased to provide additional details or advice about specific situations. For additional information on this important topic, please feel free to call upon your Tahmidur Remura Dewey LeBoeuf relationship partner. No part of this publication may be reproduced, in whole or in part, in any form, without our prior written consent. For further information on Tahmidur Remura Dewey LeBoeuf, please visit www.tahmidurrahman,com. +1 888 532 6383