Professional technical translations and professional legal translations play an important role and oil and gas industry and in mining industry. The oil industry is rapidly evolving beyond the Middle East and is now including Russia and the former Soviet republics, to name only a few. As with any business acquisition, due diligence is an essential component to acquiring a foreign oil company. And, whenever a foreign entity is involved in an acquisition, foreign language translations become a vital tool to successful due diligence.
In a typical due diligence process, a thorough review of the purchase and sale agreement serves as the common starting point.
Further, a due diligence process should include a value list of properties, along with a review of title opinions, leases, official title of records, operating agreements, etc. When the oil company being acquired is located in a foreign country, many of these documents will be written in that country’s native language(s). Thus, a complete due diligence check is impossible without a foreign language translation of the necessary documents.