Akin Gump Advises LUKOIL in Its Acquisition of a 25% Interest in the Shallow Water Absheron Peninsula Exploration Project in Azerbaijan

(Moscow) - Akin Gump is advising PJSC LUKOIL in its agreement to acquire a 25% participating interest in the Shallow Water Absheron Peninsula (SWAP) exploration project in the Azerbaijan sector of the Caspian Sea, from bp. The transaction was signed on September 28, 2021.

The deal is expected to complete before the end the year.

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.

For further details on the transaction, please click here.

The Akin Gump team was led by energy partner and partner in charge of the Moscow office Natalia Baratiants, with partner David Sweeney, senior counsel Alexander Trukhtanovand counsel Eduardo Canales.

Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.

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