King & Spalding Obtains $350 Million Arbitration Award Against Mexico's National Oil Company

HOUSTON, TX--(Marketwire - January 13, 2010) - King & Spalding, a leading international law firm, announced today that its international arbitration practice has secured an award in excess of $350 million on behalf of Corporación Mexicana De Mantenimiento Integral, S. De R.L. De C.V (Commisa), a subsidiary of U.S.-based KBR, Inc., in a dispute against Pemex Exploración y Producción (PEP), a subsidiary of Mexico's national oil company. The award was issued by the International Court of Arbitration of the International Chamber of Commerce (ICC).

King & Spalding's client, Commisa, had entered into an engineering, procurement and construction (EPC) agreement with PEP in October 1997 for the construction of two large offshore platforms and ancillary structures in the Bay of Campeche on the Gulf of Mexico for the treatment, processing and reinjection of natural gas. Commisa asserted claims that PEP delayed and disrupted the construction and did not pay certain change orders. The ICC court awarded approximately $350 million in damages, fees, expenses and interest accrued to date.

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The King & Spalding legal team representing Commisa in this matter consisted of partners Robert E. "Bobby" Meadows (Houston) and Charles C. Correll, Jr. (San Francisco).

King & Spalding has one of the leading international arbitration practices in the world, specializing in foreign investment disputes against governments, oil and gas and energy disputes, and disputes involving large infrastructure and development projects. American Lawyer's Focus Europe survey in June 2007 ranked King & Spalding first in the world in investment treaty arbitrations and second in the overall number of high-stakes international arbitrations. The firm's international arbitration practice has obtained three of the largest client awards ever issued by the International Centre for Settlement of Invest Disputes (ICSID), an organization of the World Bank.

About King & Spalding

King & Spalding is an international law firm with more than 800 lawyers in Abu Dhabi, Atlanta, Austin, Charlotte, Dubai, Frankfurt, Houston, London, New York, Paris, Riyadh (affiliated office), San Francisco, Silicon Valley and Washington, D.C. The firm represents half of the Fortune 100 and, according to a Corporate Counsel survey in August 2009, ranks fifth in its total number of representations of those companies. For additional information, visit www.kslaw.com.

Contact Information: Contact: King & Spalding Les Zuke +1 212 827 4392 lzuke@kslaw.com