Sinopec International Petroleum Exploration and Production Acquires ConocoPhillips's Interest in Syncrude JV

On June 25, 2010, wholly owned subsidiaries of Sinopec International Petroleum Exploration and Production Corporation (“SIPC”), itself a wholly owned subsidiary of China Petrochemical Corporation, acquired all of ConocoPhillips's interests in a partnership holding a 9.03 per cent interest in the Syncrude Joint Venture for cash consideration of US$4.65 billion.

SIPC was represented in-house by its legal team led by Lu Yongjun, Deputy Director and included Gao Fawei and Huang Peihuang and by Blake, Cassels & Graydon LLP, with a team that included Michael Laffin, Robert Kwauk, Jana Prete, Melissa Zerebeski, Taryn Petrovich and Julia Hughes (oil and gas and corporate/commercial); Calvin Goldman, Jason Gudofsky, Angie Morris and Prakash Narayanan (competition and foreign investment); Duff Harper (environment) and Monica Sharma (intellectual property).

ConocoPhillips was represented in-house by Graham Vanhegan and Angela Avery and by Osler, Hoskin & Harcourt LLP, with a team that included Janice Buckingham, Jack Thrasher, QC, Cheryl Kelly, Daniel Dubois (energy and corporate/commercial) and Peter Glossop and Kaeleigh Kuzma (competition and foreign investment).