FT: Total, Lukoil considering Russian shale collaboration

|By:, SA News Editor

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.