Victor Mokrousov


Victor Mokrousov


Almaty | Dechert Kazakhstan Limited, Park View Office Tower, 77 Kunaev Street, Almaty, Kazakhstan 050000
+7 727 258 3705 | +7 727 258 8084

Moscow | Dechert Russia LLC, ul. Gasheka 7 str. 1, Moscow, Россия 123056
+7 499 922 11 00 | +7 499 922 11 11


Victor Mokrousov focuses his practice on M&A, finance, and regulatory matters, especially in the energy and mining industries.

Mr. Mokrousov’s experience includes acting for major and independent oil and gas companies on upstream and transportation projects, acting for sellers and buyers in cross-border M&A transactions, acting for multilateral lenders, commercial banks and private equity funds on debt and equity financings, and advising Kazakhstan-based issuers on international capital markets offerings.

Mr. Mokrousov has been recognized as a recommended lawyer in Kazakhstan by Chambers Global since 2004. He is ranked in corporate and finance and energy and natural resources in the 2019 editions of Chambers Global and Chambers Asia Pacific, where he is described as an "excellent strategic adviser“ and clients say "he gives conscientious and thorough legal advice." Mr. Mokrousov is ranked as a leading individual in banking, finance and capital markets and commercial corporate and M&A in Kazakhstan by The Legal 500 EMEA, 2019, which also notes his energy and natural resources work. Chambers & Partners has variously praised him as a lawyer who is "experienced and insightful on Kazakh legislation” (2018), “very creative, calm and methodical, he provides very good analysis, and he comes up with legal arguments no one has done before in Kazakhstan” (2018), and "a very frank, careful and thoughtful lawyer" (2017). In The Legal 500 EMEA, he is cited as "an outstanding lawyer", who is "highly knowledgeable", "thorough", "resourceful", "responsible" and "effective” (2018).

The 2020 edition of IFLR1000 recognizes Mr. Mokrousov as a highly regarded lawyer for banking and M&A matters in Kazakhstan and Best Lawyers, 2020 notes his corporate and M&A experience. He is a frequent speaker on Kazakhstan law developments at energy conferences. Prior to joining Dechert, Mr. Mokrousov was an international partner in the Kazakhstan practice of an international law firm.

  • JSC “National Company “Kazakhstan Temir Zholy” on its invitation to holders of its outstanding U.S.$1,100,000,000 6.950% Guaranteed Notes due 2042 to tender their notes for purchase.
  • JSC Development Bank of Kazakhstan on the issuance of its KZT 62.5 billion 10.75% Notes due 2025.
  • JSC “National Company “Kazakhstan Temir Zholy” on its issuance of CHF 170 million Notes.
  • JSC Development Bank of Kazakhstan on the issuance of its KZT 100 billion 8.95% Notes due 2023 issued as Series 8 under the US$3.0 billion Medium Term Note Programme.
  • JSC National Company KazMunayGas (KMG) on its invitation to holders of KMG’s outstanding: (i) US$1.5 billion 7.000% Notes due 2020; (ii) US$1.25 billion 6.375% Notes due 2021; (iii) US$500 million 4.875% Notes due 2025; and (iv) US$2 billion 5.750% Notes due 2043 to tender any or all of such Notes held by the Holder for purchase by KMG for cash and concurrently to consent to amend, by extraordinary resolution of the Holders to provide for mandatory early redemption of the Notes by KMG.
  • KMG on its issuance of US$3.25 billion Eurobonds under the US$10.5 billion Global Medium Term Notes Programme.
  • KMG on its issuance of US$2.75 billion Eurobonds under the US$10.5 billion Global Medium Term Notes Programme.
  • The consortium of oil companies comprised of ExxonMobil, Shell, Total, Eni, ConocoPhillips and Inpex on the development of the Kazakhstan Caspian Transportation System for the export of oil from Kazakhstan.
  • China National Petroleum Corporation (CNPC) in relation to all stages of the Kazakhstan-China oil pipeline, including drafting and negotiation of the inter-governmental agreement, corporate and regulatory matters.
  • CNPC on the US$1.3 billion sale of 33% of the shares of PetroKazakhstan KazMunaiGas (KMG) and the post-sale restructuring and acquisition of an interest in the Shymkent oil refinery by CNPC and KMG.
  • The owners of Tarbagatay Munay LLP on their agreements with Xinjiang Guanghui Industry Co. Ltd, including an oilfield development project, construction of a cross-border pipeline and development of a LNG processing facility in China.
  • Roxi Petroleum, a Kazakhstan-based oil exploration and development company, on its acquisition of interests in exploration and production assets in Kazakhstan and the company’s re-admission to the Alternative Investment Market of the London Stock Exchange.
  • Acted as special legal counsel in Kazakhstan for PetroChina in connection with its listing on the Shanghai Stock Exchange.
  • Baring Vostok, a leading private equity fund, on a combined debt and equity investment in Zhaikmunai LP, a London Stock Exchange listed entity operating a significant oil and gas producing field in Kazakhstan.
  • The principal shareholders of a Kazakhstan oil company on its US$430 million sale to a Chinese oil and gas company including escrow arrangements and advice on the tax structure for the transaction.
  • A major European oil company on several projects to explore and develop major hydrocarbon reserves in Kazakhstan, including production sharing agreement (PSA) drafting and negotiation and advice on farming into existing petroleum projects.
  • Companhia Vale do Rio Doce (CVRD), a major Brazilian mining company, on the acquisition of a controlling interest in a UK company that holds exploration and mining rights in a copper project in Kazakhstan.
  • A large European electricity producer on the development of a coal-fired power plant in Kazakhstan.
  • China Datang Overseas Investment Company, China’s largest power company, on the formation of a joint venture for the construction of two hydropower plants in Kazakhstan.
  • European Bank for Reconstruction and Development (EBRD) on a €255 million loan to the Kazakhstan Electric Grid Operating Company (KEGOC) to finance the second phase of the modernization of KEGOC’s substations and high-voltage equipment.
  • EBRD on its €46 million equity investment in Central-Asian Electric Power Corporation, the funds to be used for the upgrade and rehabilitation of CAEPCo’s generation and distribution facilities.
  • EBRD on its US$40 million loan to JSC Pavlodarskiye Teploviye Sety and LLP Pavlodarskiye Teploviye Sety to modernize the city domestic heating systems in Pavlodar and Petropavlovsk in northern Kazakhstan.
  • EBRD on its US$30 million loan to PavlodarEnergo in Kazakhstan to upgrade its coal-fired combined heat and power plant to improve efficiency and help address the growing demand in the Pavlodar region in North East Kazakhstan.
  • EBRD on its US$32 million loan to, and US$10 million equity investment in, Balykshy to finance a marine support and supply base in the Bay of Bautino in Kazakhstan.
  • EBRD and HSBC on a US$42 million secured loan to Karcement to support the expansion and modernization of the Karaganda cement plant in Kazakhstan.
  • Eurasian Development Bank (EDB) on its US$21.5 million loan to APK Invest to refinance an existing loan obtained from a commercial bank.
  • EDB on its KZT2.7 billion and US$18.9 million loans to Kazexportastyk to develop grain export infrastructure in Kazakhstan.
  • Acted as Kazakhstan counsel to Morgan Stanley on the extension of loan facilities to KMG and several leading Kazakh banks including Halyk Bank, Alliance Bank and Bank Center Credit.
  • A large Kazakh bank on a financing secured by an extensive security package, including a mortgage of oil tankers located in the Caspian Sea.
  • A number of foreign and national companies operating in the oil & gas, mining and consumer products sectors in connection with antimonopoly filings in Kazakhstan.
  • Numerous multinational companies on Kazakhstan anti-corruption law requirements, including the development of internal gift policies, risk assessment and compliance guidelines in connection with specific events involving interaction with government officials.
  • OAO Mechel, via its wholly-owned subsidiary Oriel Resources, on its US$425 million disposal of the Voskhod Mining Plant (in Khromtau, Kazakhstan) and Tikhvin Ferroalloy Plant (in Tikhvin, Leningrad Region, Russia) to Turkey’s Yildirim Group.

Includes matters handled at Dechert or prior to joining the firm.

  • Al-Farabi Kazakh National University, Law Degree, 1995, with Honors
  • University of Minnesota Law School, LL.M., 1999
  • Kazakhstan
  • New York
  • English
  • Russian
  • Kazakhstan Petroleum Lawyers’ Association