Field Fisher Waterhouse advises Kazakh oil and gas producer on major acquisition
09 August 2010
Field Fisher Waterhouse LLP has advised JSC
KazMunaiGas Exploration Production, one of the largest oil and gas
producers in Kazakhstan, on the acquisition of a 50% interest in
Mangistau Investments BV for US$330m with associated debt of US$1.3
billion from the China Export-Import Bank giving the deal value of
US$1.66 billion. Mangistau Investments BV is a joint venture
between NC KazMunaiGas and China National Petroleum Corporation
(CNPC). CNPC will retain the remaining 50% stake.
Field Fisher Waterhouse advised on the
acquisition deal which will allow JSC KazMunaiGas EP to
considerably increase oil production and reserves, expanding its
operations in Kazakhstan. The deal was led by corporate
partner Alex
Woodfield and associate Nodir Sidikov assisted by a ten lawyer team
which included finance partners Andrew Evans and Oliver Abel-Smith.
This is the latest transaction for the
firm’s successful CIS team, led by Alex Woodfield. The Group,
comprising 12 lawyers, including eight Russian speakers, acts for
major Russian and CIS businesses and entrepreneurs including a
number of clients in the oil and gas industry.
Alex Woodfield said: “We are delighted
to have closed this latest deal for KazMunaiGas, a client we have
represented for a number of years. We continue to grow our
CIS team at Field Fisher Waterhouse and with an in-depth knowledge
of the region, are seeing an increasing number of Russian and CIS
companies looking to do business in the UK and globally who are
coming to us for legal advice. ”
NC KazMunaiGas was advised by Norton
Rose.
For further press information please
contact:
Louise Eckersley, PR Manager,
Field Fisher Waterhouse LLP on +44 (0)20 7861 41