French Total company plans to resume cooperation with LUKoil to develop sections with hard to extract oil, press office of Total told RIA Novosti.
“We would like to resume our cooperation with LUKoil on the Bazhenova Svita as soon as the sanctions are lifted. We are committed to Russia and continue developing our current Russian projects, including the Kharyag field, Termorastvo field and, of course, Yamal, because the sanctions do not hinder our work on these fields,” said Total representative in Russia, Jacques de Buassezon.
Commersant newspaper reported earlier that following Gasprom’s Shtokman French Total will leave the JV with LUKoil for development of the sections with hard to extract oil. LUKoil is going to compensate Total’s costs for acquisition of three licenses for the sections with the hard to extract oil on the Bazhenova Svita, LUKoil President Vagit Alekperov said on Wednesday.
