Akin Gump Advises LUKOIL on its 25 Percent Investment in Major Hydrocarbon Production Project in Republic of Congo
Contact:
(Moscow) – International law firm Akin Gump has advised PJSC LUKOIL in its agreement to acquire a 25 percent interest in the Marine XII license in the Republic of Congo from New Age M12 Holdings Limited for $800 million.
The transaction signed on June 6, 2019, and is subject to regulatory conditions, including the approval by the government of the Republic of Congo.
The Marine XII license is located offshore Republic of Congo and covers five discovered fields containing 1.3 billion barrels of oil equivalent of reserves. The license is based on a production sharing contract, with Eni as the project's operator.
The Akin Gump team advising LUKOIL is led by Moscow energy partner Natalia Baratiants and London global project finance partner Julian Nichol with Moscow corporate senior counsel Alexander Trukhtanov.
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.
# # #
