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Russia’s LUKoil in talks with France’s Total on Lebanese shelf projects

Earlier, Russian companies Rosneft, Lukoil and Novatek pre-qualified for participation in the first licensed round for prospecting works on Lebanon’s shelf

Photo ITAR-TASS

Photo ITAR-TASS

ST. PETERSBURG, June 20 (Itar-Tass) - Russia’s oil major LUKoil continues negotiations with France’s Total on cooperation on Lebanon’s shelf, LUKoil President and co-owner Vagit Alekperov told Itar-Tass on Thursday in the sidelines of the Petersburg International Economic Forum.

“We are in talks, negotiating joint participation in a tender,” he said.

According to earlier reports, Russian companies Rosneft, Lukoil and Novatek in April 2013 pre-qualified for participation in the first licensed round for prospecting works on Lebanon’s shelf. In all, there are applications from 52 companies from 25 world nations. Offers will be considered till January 2014, and the winner will be announced in February 2014.

Rosneft plans to develop the Lebanese shelf in alliance with U.S. ExxonMobil. LUKoil is expected to take part in the tended in partnership with France’s Total, and Novatek - in partnership with GPB Resources (Gazprombank’s subsidiary).

Earlier, LUKoil’s president said that his company’s share in a consortium with French Total for the development of the Lebanese shelf might be 20 percent.

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