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Russian oil producer Lukoil has appointed a three-firm panel for its upstream Middle East subsidiary Lukoil Middle East after winning a contract to develop a major Iraqi oilfield.
Longstanding advisers Akin Gump Strauss Hauer & Feld and Clifford Chance have been joined by Clyde & Co on the debut panel. Clydes has already won a mandate to advise Lukoil on the West Qurna-2 development.
Lukoil received 11 replies to its proposal requests before settling on its roster. The appointments initially run only until the end of the year, although it is expected that they will be extended as the company expands its interests in the region.
In 2009 the energy giant appointed six firms to a Lukoil Overseas panel. It is understood that the new panel will effectively replace the wider overseas roster, with Lukoil Overseas general counsel Nikolai Isaakov relocating to Dubai to oversee the Iraqi project.
Clydes’ appointment came following its recruitment of Duncan Gray from LG as a special counsel. Gray, who has a close relationship with Isaakov, previously secured a place for LG on the overseas panel, despite it having no presence in Moscow.