News 12 Jun. 2009

Curtis Represents KazMunayGas in Agreements with ConocoPhillips and Mubadala for Exploration and Development of N Block, in Kazakhstan

NEW YORK, June 12, 2009 — International law firm Curtis, Mallet-Prevost, Colt & Mosle LLP represented KazMunayGas (KMG), the national oil company of Kazakhstan, in successful negotiations with ConocoPhillips and Mubadala Development Company PJSC for the joint exploration and development of an offshore block. The agreement, which was signed yesterday in Astana, calls for KMG to hold a 51% interest in the subsoil use contract and the remaining 49% to be divided between Conoco and Mubadala, which will each hold 24.5% stakes. A Kazakhstani entity, jointly owned by the three parties in proportion to their stakes, will operate the project.

Located in the Caspian Sea, the N Block project is considered the largest new project of its kind in Kazakhstan. The block covers approximately 8,100 square km and is located south-southwest of Aktau, Kazakhstan.

Curtis used an international team of attorneys from several of its offices. The Curtis team consisted of partners George Kahale III (New York), Eric Gilioli (New York), Peter Stewart (Dubai), Askar Moukhitdinov (Kazakhstan), Tom Mackay (London), and associates Askhad Koshkarbayev (Kazakhstan), Donald Macfarlane (London), Colby Jenkins (Paris), M. Adil Qureshi (Dubai) and Karen Brice (New York).