About

Kuwait Energy, a company prominent in the MENA region and experts in oil and gas exploration, appraisal, development and production of hydrocarbons, has a strong legal team led by group general counsel Alexander Paterson. Functioning in an environment where legal has always been viewed as a support function, Kuwait Energy’s top management have shifted the balance to ensure legal plays a greater role, a shift which came during the company’s change from a Kuwait-listed company to a Jersey-listed company. The legal team has adhered to this change and played a pivotal role in ensuring that the corporate governance framework is in accordance with the London Stock Exchange’s main board listing standards. The team has recently been involved in M&A negotiations regarding assets in Egypt and the sale of businesses in Ukraine and Russia (two large and complex transactions executed within the same year). The team has been essential in the business’s expansion in Yemen, Oman, Egypt and Iraq. One business partner commenting on the team’s role in increasing the strength of Kuwait Energy’s regional operations comments: ‘the governance framework has introduced some streamlining and has made us more efficient commercially’. One of the legal division’s main achievements has been dealing with a high yield bond in a narrow timeframe and responding more generally to market challenges and difficult geo-political issues. The team continues to impress, even with a shift in business activities they have succeeded in bringing down the cost of legal spend. Says one nominator: ‘It’s a different world here compared to London or New York. It needs all aspects of the business to perform and the legal department plays a huge part in building the framework’.