FT: Total, Lukoil considering Russian shale collaboration

Total (TOT) is in talks to partner with Lukoil (LUKOY, LUKOF) on its shale oil projects in Russia, FT reports, as Moscow targets unconventional resources to replace falling production at ageing fields in Siberia.

Lukoil’s potential partnership with TOT would mark a change of strategy for the Russians, which until now have opted to develop domestic assets alone.

The talks highlight the desire among some international companies to continue doing business in Russia despite the deteriorating political relations.

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Comments (1)
  • Veritas1010
    , contributor
    Comments (3168) | Send Message
    Business with Russia is risky and ill-advised. Both TOTAL and Exxon believe they can lay down with the bear and come out smelling like a rose.


    It really gives you an honest metric on how concerned the majors are to fine replacement reserves.
    27 Mar 2014, 07:34 PM Reply Like
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