David Blumental advises Asia-based and international clients on a wide range of cross-border energy and natural resource transactions, including upstream oil and gas, LNG project development, and long-term offtake agreements, petrochemicals, chemicals, and mining projects in China, North and South America, Africa, Russia and the CIS, Southeast Asia, and Australia. He serves as Global Co-Chair of the firm’s Oil & Gas Industry Group, with almost 20 years of on-the-ground experience working in China and on China-related matters.
Mr. Blumental’s practice focuses on:
- Cross-border mergers, acquisitions, and divestitures
- Joint ventures
- Project development and financing
- Private equity investments
In addition to advising on transactional matters, Mr. Blumental regularly counsels clients on cross-border litigation, arbitration, compliance, and corporate governance matters involving Chinese or other Asian parties.
Mr. Blumental is listed in the A-List 2017: China’s top 100 lawyers by China Business Law Journal and is ranked Band 1 for China, Energy, & Natural Resources (International Firms) by Chambers Asia-Pacific 2018 and Chambers Global 2017, noting that he is "an oil and gas expert. He also speaks perfect Mandarin, which is highly useful and impressive."
Mr. Blumental’s representative experience includes advising:
- A consortium of three Indian oil and gas companies, Oil India Limited, Indian Oil Corporation Limited, and Bharat PetroResources Limited, on the acquisition, from Rosneft, of a:
- 23.9% stake in JSC Vankorneft, which holds the Vankor Licenses in Eastern Siberia
- 29.9% stake in Taas-Yuryakh Neftegazodobycha, a Russia-based oil and gas exploration and production company
- Shandong Ruyi Technology Group on its acquisition of a majority stake in Groupe SMCP, a France-based global designer, distributor, and retailer of accessible luxury apparel
- Shandong Ruyi Technology Group on its €250 million overcollateralised senior secured guaranteed exchangeable bonds due 2021 into Sandro, Maje and Claudie Pierlot (SMCP) and concurrent repurchase of €60 million exchangeable bonds due 2019 — transaction named "Best Equity-Linked Deal" by GlobalCapital Asia Capital Markets Awards 2018
- Northern Heavy Industries Group on its acquisition of The Robbins Company, a designer and manufacturer of underground excavation construction machinery for boring tunnels
- AMER International Group on its acquisition of a minority interest in General Moly, a mineral company engaged in the exploration, development, and mining of molybdenum
- Newegg, an online retailer of electronic products, in an investment by Hangzhao Liaison Interactive Information Technology Co., Ltd.
- Sinopec on its C$2.9 billion acquisition of Daylight Energy Ltd., a Canadian oil and gas company traded publicly on the Toronto Stock Exchange*
- Sinopec on its acquisition of working interests in three deep water natural gas blocks offshore East Kalimantan, Indonesia*
- CNPC International on its proposed US$2.1 billion acquisition of a private European company with oil and gas assets and operations in the North Sea and in several West African countries*
- Devon Energy Corporation on its US$2.5 billion sale of 1/3 working interest in five oil shale projects comprising 1.2 million acres covering the Tuscaloosa Marine Shale, the Niobrara, the Mississippian, Ohio Utica Shale, and the Michigan Basin*
- CNOOC Limited on its acquisitions from Chesapeake Energy and investments of more than US$3.47 billion in US shale properties, including working interests in oil and gas leases covering over 1.4 million acres in the Eagle Ford Shale and the Niobrara Shale*
- Singapore Petroleum Corporation on its US$223 million acquisition of an American company with interests in two oil and gas blocks in Bohai Bay, China*
- BG International Ltd. on the negotiation of production sharing contracts for deep water blocks in the South China Sea*
- Oleoducto de Crudos Pesados, a pipeline operating company, on the negotiation of operating and lifting agreements for US$1.2 billion heavy crude oil pipeline and marine terminal in Ecuador*
- Husky Energy and CNOOC on the negotiation of tie-in arrangements and natural gas transportation, processing, and handling agreements relating to a deep water development in the South China Sea*
- Hess Corporation on unconventional oil and gas operations onshore China*
- A US energy company on sale of its 50% share in a company owning interests in over 12 power plants in China, Taiwan, and Korea for approximately US$220 million*
- Chinese steel and minerals company on its proposed acquisition of iron ore mining rights in Argentina and a proposed joint venture to own and develop uranium mining rights in Kyrgyzstan*
* Matter handled prior to joining the firm