A 50:50 joint venture to source and market gas in India will give BP a 30% stake in 23 oil and gas blocks operated by Reliance Industries.
The deal was signed in London on 21 February by Mukesh Ambani, the chairman of Reliance Industries, and Robert Dudley, the group chief executive of BP.
Allen & Overy advised Reliance on the deal. Its team was led by oil and gas partners John Geraghty and Paul Griffin and supported by senior associate Michael Burns and associate Ben Malone. Partner Mark Friend and senior associate Victoria Oates provided antitrust advice. The firm worked closely with Reliance’s in-house counsel Atul Dayal and Naveen Raju, and with lawyers at Vinson & Elkins, who were co-counsel to Reliance.
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