Total continues the work on its Russian projects despite the sanctions

The French oil and gas concern Total continues the work on its Russian projects despite the new series of the western sanctions, the company’s PR-service claims. Total evaluates their effect at the moment, continuing their work in Russia as planned, the PR-service says answering the question about the possible influence of the sanctions onto its cooperation with Lukoil.

In May 2014, Lukoil and Total signed the agreement about foundation of the joint venture for the work at the Bazhenov suite. They distributed the shares as 51% to Lukoil and 49% to Total. Three sites brought by Total to the joint venture with Lukoil bear reserves of 42 million tons of oil.

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