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Akin Gump and Linklaters Advise on Equinor's Acquisition of 49% Stake in KrasGeoNaC from Rosneft

Akin Gump and Linklaters Advise on Equinor's Acquisition of 49% Stake in KrasGeoNaC from Rosneft

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Akin Gump has advised Equinor on its USD 550 million acquisition of a 49% stake in KrasGeoNaC from Rosneft. Linklaters’s Moscow office advised the seller on the deal.

Equinor is a Norwegian state-owned international energy company that operates in 36 countries. The company’s primary areas of focus are oil and gas exploration and production, pipeline operations, biofuels, and renewable energy.

KrasGeoNaC holds 12 conventional onshore exploration and production licenses in eastern Siberia. According to Akin Gump, “one of the 12 licenses, the North Danilovsky development, started production in July this year, with output expected to reach 40,000 barrels of oil per day by 2024, with plans to increase this to 70,000 barrels per day.”

Rosneft is a Moscow-based energy company which specializes in exploration, extraction, production, refinement, transport, and sale of petroleum, natural gas, and petroleum products.

Akin Gump’s team included, in Moscow Partners Alexey Kondratchik and Vladimir Kouznetsov, Senior Counsel Alexander Trukhtanov, Counsels Pavel Kabatov, Anna Semashko, Andrey Kulikov, Olga Te, and Arsen Khachikyan, and Associates Alexey Maslyaev, Anna Kardash, and Nikolay Ryashin; in London, Partners Artem Faekov, Jasper Helder, and Chiara Klaui; and in Washington, Partner Nnedinma Ifudu Nweke.

Linklaters’s team consisted of Partner Grigory Gadzhiev, Managing Associates Maxim Solomin and Maria Ziborova, and Associate Anna Yakomaskina.

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Founded in 1993, Egorov Puginsky Afanasiev & Partners is the leading full-service law firm in the CIS with offices in Russia, Ukraine and Belarus and associated offices in the UK, the USA and Cyprus.

We handle some of the largest and most complex and demanding transactions. We advise our clients in many areas of law, including: dispute resolution in Russia and abroad, International Arbitration and Litigation, M&A and Corporate, antitrust issues, criminal law, intellectual property, restructurings and insolvencies, international trade and customs, tax, real estate and construction, banking and finance, energy and natural resources, environmental and technical regulation, marine and transport law, pharmaceuticals and healthcare and others.

We combine high academic qualifications, internationally acknowledged moral and ethical values, senior partners' professional experience and practical abilities with the vigour and knowledge of younger attorneys, providing clients with reliable, first-class service according to both Russian and western standards through a flexible structure.

All News about, and Legal Analysis by, Egorov Puginsky Afanasiev & Partners can be found here.

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