Akin Gump has advised Lukoil on its acquisition of a 25% participating interest in the Shallow Water Absheron Peninsula exploration project in the Azerbaijan sector of the Caspian Sea, from BP.
The transaction is expected to close before the end of the year.
According to Akin Gump, “after the completion of the sale, BP will remain the operator of the project, holding a 25% interest. The third party in the project is SOCAR, the State Oil Company of the Azerbaijan Republic, with a 50% share.”
Akin Gump’s team was led by Partner Natalia Baratiants and included Partner David Sweeney, Senior Counsel Alexander Trukhtanov, and Counsel Eduardo Canales.
The firm did not reply to our inquiry on the matter.
