October 12, 2014 / 7:33 AM / in 4 years

Russia's Rosneft seeks UK-certified lawyers in sanctions fight

The logo of Russia's top crude producer Rosneft is seen on a price information board of a gasoline station in Moscow July 17, 2014. REUTERS/Sergei Karpukhin

MOSCOW (Reuters) - Russia’s top oil producer Rosneft has turned to UK-certified lawyers in its fight against Ukraine-related Western sanctions which have hit the company’s output and prospects for its push to tap Arctic riches.

The Kremlin-controlled firm has issued a 17.7-million-pound ($28-million) tender seeking the services of UK-certified lawyers on a website which registers Russian state purchases and orders.

“Provider undertakes to render legal services with regard to challenging economic sanctions and to protect interests of the client in general in respect to any other legal matters,” the document said.

The amount of the work is set at 37,000 hours, making the fee 478 pounds per hour.

BP owns a 19.75 percent stake in Rosneft, which due to the sanctions faces limits on its access to capital markets, curbing its ability to fund development work.

Last month, ExxonMobil said it had to wind down cooperation with Rosneft in the Arctic after successfully drilling a first exploration well and the discovery of a large oilfield..

Reporting by Vladimir Soldatkin; editing by Jason Neely

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below