10/25/2021 | Press release | Distributed by Public on 10/25/2021 10:48
(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.
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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