Akin Gump Advises LUKOIL in Relation to the Sale of an Interest in Amatitlán Exploration and Production Block
(Moscow) – Akin Gump has advised PJSC LUKOIL (LUKOIL) in relation to the acquisition by Renaissance Oil Corp. of an indirect 25 percent interest in the Integrated Exploration and Production Contract for the 230 km2 (56,800 acres) Amatitlán block near Poza Rica, Veracruz, Mexico. The transaction was signed today.
As part of the agreement, Renaissance will acquire an indirect 25 percent interest from Marak, LUKOIL’s current partner, in Petrolera de Amatitlán S.A.P.I. (Petrolera), the contractor of the Integrated Exploration and Production Contract for the Amatitlán block. Marak currently owns a 50 percent indirect interest in Petrolera, with the remaining 50 percent held by LUKOIL. Renaissance will also have an option to acquire up to a 62.5 percent interest in Petrolera.
Renaissance will also take the lead role in operations.
The Akin Gump team advising LUKOIL is led by Moscow corporate partners Natalia Baratiants and Vladimir Kouznetsov supported by senior counsel Alexander Trukhtanov in Moscow and associate Eduardo Canales in Houston.
Founded in 1945, 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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