Akin Gump Strauss Hauer & Feld LLP advised Statoil, the Norwegian state oil and gas company, in concluding a Heads of Agreement with Russia’s Rosneft Oil Company to explore for shale oil in Russia’s Samara region.
Under the agreement, Statoil will provide up to $60 million to finance the project, in which it will hold a 49 percent stake. Rosneft will hold the remaining 51 percent of the project.
Richard Wilkie, a partner in Akin Gump’s Moscow office and head of the firm’s M&A practice in the region, and Pavel Kabatov, a counsel in the Moscow M&A practice, advised Statoil.
