BP finalised the terms of a $10bn Arctic exploration deal with Rosneft recently, prompting TNK-BP partner Alfa Access Renova (AAR) to file the injunction, reports The Telegraph.
According to AAR, BP violated its previous agreement by excluding TNK-BP from its negotiations with Roseneft.
The three partners expressed their intention through the injunction that they do not want the deal to be derailed entirely, but want to be brought inside and make TNK-BP the main vehicle for BP’s operations in Russia.
BP’s chief executive Bob Dudley said the new Rosneft framework agreement would be shared with AAR.
Approximately one third of BP’s total oil production comes from the TNK-BP venture, providing huge dividends.