Curtis Sponsors AIEN's Landmark NOC Conference in London

Curtis Sponsors AIEN's Landmark NOC Conference in London

Curtis partners play key roles at the first major gathering of National Oil Companies in over a decade

Last week, Curtis proudly sponsored and participated in the Association of International Energy Negotiators (AIEN) NOC Conference & Workshops in London—the first conference of its kind in 13 years dedicated exclusively to the unique challenges and opportunities facing National Oil Companies worldwide.

National Oil Companies control approximately 90% of the world's oil and gas reserves and are responsible for a significant portion of global production. As state-owned entities, NOCs are uniquely positioned to drive the energy transition and invest in sustainable solutions where private companies may be hesitant. Yet they face the complex challenge of balancing environmental imperatives with their critical role in fostering economic development, generating revenues for national budgets, and ensuring energy security for their citizens and beyond.

A Gathering of NOCs at Different Stages of Development

The conference brought together representatives from NOCs spanning the full spectrum of development—from emerging producers just beginning their journey to mature, diversified energy companies operating globally. This diverse gathering included NAMCOR (Namibia), Staatsolie (Suriname), Timor-Leste's national oil company, NNPC (Nigeria), Georgian Oil and Gas Corporation, Ecopetrol (Colombia), CNOOC (China), QatarEnergy, ADNOC (UAE), Petrobras (Brazil), Pré-Sal Petróleo S.A. (Brazil), PTT Exploration and Production (Thailand), Equinor (Norway), and EBN (Netherlands).

• Emerging NOCs: NAMCOR from Namibia is conducting extensive post-well studies and exploration activities following recent major offshore discoveries, while Staatsolie from Suriname expects first oil production from offshore Block 58's GranMorgu field in 2028 following the Final Investment Decision. Timor-Leste's national oil company is also in the early stages of developing its hydrocarbon resources. These emerging NOCs are grappling with foundational questions about resource exploitation strategies, regulatory frameworks, and initial partnerships with International Oil Companies.

• Mid-Tier NOCs with Strong Operations: Companies like NNPC (Nigeria) and Georgian Oil and Gas Corporation have established strong domestic operations and are beginning to expand their footprint. Meanwhile, NOCs such as Ecopetrol, Petrobras, Pré-Sal Petróleo S.A., CNOOC, ADNOC and QatarEnergy have moved beyond their home jurisdictions with significant international portfolios. PTT Exploration and Production from Thailand operates 40 petroleum exploration and production projects across 11 countries, exemplifying this international expansion. These mid-tier NOCs face contract management complexities, decommissioning challenges, and growing pressure to diversify their energy portfolios while continuing to generate revenues for their governments.

• Mature, Diversified NOCs: At the most advanced end of the spectrum, Equinor has diversified significantly into renewables with 7 GW of capacity installed or under development as of 2024, aiming for 10-12 GW by 2030, while maintaining substantial oil and gas operations. EBN from the Netherlands has pivoted from its historical oil and gas focus to concentrate on the gas transition, heat transition, and carbon capture and storage as part of the Dutch energy transition toward climate neutrality by 2050. These mature NOCs are navigating the complexities of energy transition while balancing revenue generation for their governments with sustainability imperatives.

Curtis' Engagement

Curtis demonstrated its deep commitment to supporting NOCs by sponsoring the welcome reception and contributing substantive expertise throughout the conference. Partner Marc Hammerson moderated the closing panel on "The Future of NOCs," exploring how National Oil Companies can maintain relevance and competitive advantage while balancing national priorities with global energy transition imperatives.

Partner Elisa Botero moderated the panel "AI in Energy: Transforming Operations and Accelerating the Transition," examining how artificial intelligence is reshaping operations, driving efficiency gains, and creating new governance and workforce challenges for the energy sector.

Curtis also coordinated the workshop on "Strategic Legal Practices for NOCs: Dispute Resolution, Arbitration, and Risk Management." Partners Elisa Botero and Luciana Ricart delivered expert presentations during this comprehensive half-day session, with Luciana Ricart specifically teaching the enforcement risk management module. The workshop provided NOC representatives with practical insights into crafting effective dispute resolution clauses, understanding NOCs' unique position in investor-state arbitration, and implementing effective risk mitigation strategies—all critical issues as NOCs navigate increasingly complex international partnerships.

Curtis' Capabilities for National Oil Companies

As demonstrated at the conference, Curtis' energy practice is ideally positioned to support NOCs at every stage of their development journey. Our services include:

For Emerging NOCs:

• Design and drafting of oil and gas sector legislation and regulatory frameworks
• Structuring of bidding processes for strategic projects
• Negotiation of production sharing agreements with IOCs
• Development of model contracts aligned with international best practices

For Developing and Mid-Tier NOCs:

• Review and revision of existing agreements and legislation
• Contract management and interpretation
• Advisory on upstream contract development and oversight
• Dispute resolution and arbitration (an area where Curtis is ranked among global leaders)

For Mature NOCs:

• Energy transition strategy and implementation
• Cross-border investment and M&A advisory
• Complex project structuring and financing
• Environmental and regulatory compliance
• Decommissioning and infrastructure reuse

For All NOCs:

• Comprehensive commercial services across the oil and gas value chain
• Public international law advice, from treaty drafting to day-to-day counsel
• Tax policy and structuring
• Resolution of complex international disputes

With our rich history in the oil and gas sector and longstanding focus on the particular needs of sovereign clients—including governments, ministries, and NOCs throughout Central Asia, Latin America, the Middle East, Africa, and Europe—Curtis brings decades of practical experience in designing, financing, and implementing oil and gas infrastructure projects of national and strategic importance.

The AIEN conference underscored that while NOCs face diverse challenges depending on their stage of development, they share common needs for sophisticated legal counsel that understands both the technical complexities of the energy sector and the unique political, economic, and social contexts in which NOCs operate. Curtis is proud to serve as a trusted advisor to National Oil Companies worldwide, helping them maximize value from their resources while advancing their nations' strategic objectives.