Akin Gump Advises Statoil in Shale Joint Venture with Russia’s Rosneft

(Moscow) – Akin Gump advised Statoil, the Norwegian oil and gas company, in a joint venture with Russia’s Rosneft to assess the feasibility of commercial production from the Domanik shale formation. As part of the agreement, the two companies will set up a three-year pilot program to determine the potential for such production, with Statoil controlling a 49 percent stake and Rosneft owning the remaining 51 percent.

Richard Wilkie, a partner in Akin Gump’s Houston and Moscow offices, led the team advising Statoil, with assistance from counsel Pavel Kabatov and associate Anna Semashko. This joint venture follows the Heads of Agreement signed by Statoil and Rosneft last June to explore for shale oil in Russia’s Samara region (click here to read more).

Founded in 1945, Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 850 attorneys in offices throughout the United States, Europe, Asia and the Middle East.

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