Akin Gump has advised Equinor on its USD 550 million acquisition of a 49% stake in KrasGeoNaC from Rosneft. Linklaters’s Moscow office advised the seller on the deal.
Equinor is a Norwegian state-owned international energy company that operates in 36 countries. The company’s primary areas of focus are oil and gas exploration and production, pipeline operations, biofuels, and renewable energy.
KrasGeoNaC holds 12 conventional onshore exploration and production licenses in eastern Siberia. According to Akin Gump, “one of the 12 licenses, the North Danilovsky development, started production in July this year, with output expected to reach 40,000 barrels of oil per day by 2024, with plans to increase this to 70,000 barrels per day.”
Rosneft is a Moscow-based energy company which specializes in exploration, extraction, production, refinement, transport, and sale of petroleum, natural gas, and petroleum products.
Akin Gump’s team included, in Moscow Partners Alexey Kondratchik and Vladimir Kouznetsov, Senior Counsel Alexander Trukhtanov, Counsels Pavel Kabatov, Anna Semashko, Andrey Kulikov, Olga Te, and Arsen Khachikyan, and Associates Alexey Maslyaev, Anna Kardash, and Nikolay Ryashin; in London, Partners Artem Faekov, Jasper Helder, and Chiara Klaui; and in Washington, Partner Nnedinma Ifudu Nweke.
Linklaters’s team consisted of Partner Grigory Gadzhiev, Managing Associates Maxim Solomin and Maria Ziborova, and Associate Anna Yakomaskina.