Currency converter
^
All news
News Search Topics
ОК
Use filter
You can filter your feed,
by choosing only interesting
sections.
Loading

Lukoil, Total to invest $120-150 million in Siberian field over 2 years

May 23, 2014, 14:03 UTC+3 ST. PETERSBURG
Lukoil will own 51% in the venture, but all decisions will be made on parity basis
Share
1 pages in this article
© ITAR-TASS/Vladimir Zinin

ST. PETERSBURG, May 23. /ITAR-TASS/. Russian oil major Lukoil has signed an agreement on to set up a joint venture with France’s Total to jointly develop the Bazhenovskaya formation in West Siberia with investments of $120-150 million, Lukoil’s CEO Vagit Alekperov said Friday at the St. Petersburg International Economic Forum.

Lukoil will own 51% in the venture, but all decisions will be made on parity basis, Alekperov said.

The Bazhenovskaya formation contains hard-to-develop oil, with reserves amounting from 10 billion tonnes to 30 billion tonnes, according to an estimate of the Federal Mineral Resources Agency.

Show more
Share
In other media
Реклама
Реклама