Total in Siberia shale oil joint venture with Russia's Lukoil

May 26, 2014

French energy giant Total said Friday that it has signed a deal with Russia's second biggest oil firm Lukoil to explore and develop shale oil deposits in western Siberia.

Total will hold 49 percent and Lukoil 51 percent of the joint venture, which would begin assessing the feasibility of developing the shale oil potential at the Bazhenov area in western Siberia, the French group said in a statement.

Copyright, Global Energy World, 2014.