In a weak economy, many international firms have had to downsize their transactional groups in Asia. For some firms, the silver lining lies in Asia's continued demand for energy and resources. A number of recent additions to the Asia offices of Vinson & Elkins and Allen & Overy have signalled that the energy sector remains one of a few areas that still offer law firms prospects for transaction activity in the region.

Answering to strong client demands, Vinson & Elkins has relocated seasoned energy and projects partner Gary Kotara from the firm's Dubai office to Hong Kong. Kotara has broad experience in the area of energy business transactions in important markets across the globe. In addition, he has extensive experience in energy regulation and administrative litigation. "We are continuing to see significant levels of investment activity in the Asian energy sector, particularly involving international acquisitions by Chinese and other Asian companies in the oil & gas and natural resources sectors, as well as a number of LNG-related transactions across Asia," said Gary Kotara (pictured).

"Despite the global economic downturn, China and a number of other Asian countries still need significant energy imports in order to meet demand. In addition, the recent drop in international oil and gas prices and resulting decrease in value of upstream oil and gas assets has made those investments more attractive, particularly for companies with capital like certain of the Asian energy companies," he said.

Kotara's move to Hong Kong is part of Vinson & Elkins' continued expansion in Asia, which includes the lateral hire of international dispute resolution partner Christopher Walker in Hong Kong and the transfers of finance partner Jim Matthews from Dallas and energy transactions and projects partner James Atkin from London to Tokyo during the past year. The firm now has over 40 fee earners based in Beijing, Hong Kong, Shanghai, and Tokyo.

In January this year, Lovells showed its commitment to the energy & resources practice in Asia by acquiring Tokyo-based energy partner Anthony Raven from Herbert Smith, and hiring two high-profile energy experts for its Singapore office.