Lukoil and Total agree on the general conditions of cooperation in the development of hard-to-recover hydrocarbon reserves in Russia.
Edited by Rhod Mackenzie / 2014-05-26 05:59:55
Oil and Gas Russia Seismic survey Drilling Geological prospecting Lukoil Petroneft Resources Total Oil
During the St. Petersburg International Economic Forum - 2014 Vagit Alekperov, the President of JSC "LUKOIL", and Christophe de Margerie, the President and Chairman of the Total concern Board of Directors, signed an agreement on the general terms of companies’ participation in the joint exploration and development of hard-to-recover hydrocarbon reserves in the Khanty-Mansiysk Autonomous Region - Yugra in the Russian Federation.
A joint venture will be created in accordance with the Agreement for the implementation of the project, in which the share will be distributed as follows: LUKOIL - 51%, Total - 49%.
