Vinson & Elkins advised China Petroleum and Chemical Corp. (Sinopec Corp.) in its joint venture with SIBUR, a leading Russian gas processing and petrochemicals company, in the development of the Krasnoyarsk Synthetic Rubber Plant (KZSK). Sinopec purchased 25 percent + 1 share of KZSK.
With its newly acquired stake, Sinopec will have the opportunity to nominate one of its own representatives as director to the joint venture’s board.
The V&E team was led by energy transactions/projects partners Natalya Morozova, who practices in the firm’s Moscow office, as well as Xiao Yong, in the Hong Kong office and Rob Patterson, in the Beijing office. They were assisted by counsel Zhaohui Li and Heather Heys, an associate on the Beijing energy transactions/projects team.
In 2010, V&E advised Sinopec Corp. its $7.1 billion acquisition of Repsol Brasil, S.A. Sinopec acquired a 40 percent stake in interest in Repsol’s assets in Brazil, and access to the highly valued Brazilian offshore sub-salt oilfields. The deal won Asian-MENA Counsel’s “Deals of the Year 2011.”
