Lukoil’s share in its joint venture with Total on work in the Bazhenov group to make up 51%

Soon,the French Total and Lukoil will sign an agreement on the creation of a joint venture for the development of the Bazhenov group, in which the Russian company will have 51%, Total’s senior vice president for Continental Europe and Central Asia, Michael Borrell reported during the Oil and Gas Summit of the CIS.

The Bazhenov group in Western Siberia contains difficult to extract oil. According to Rosnedra, its reserves make up from 10 to 30 billion tons of oil.

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