Total, Lukoil Team up to Seek Shale Oil in Bazhenov
May 23 2014 - 6:19AM
Dow Jones News
By Inti Landauro
PARIS--French oil major Total SA (TOT) Friday said it created a
joint-venture with Russian rival Lukoil Holdings (LUKOY) to seek
and develop shale oil in the Bazhenov area in Western Siberia.
Total will hold 49% in the venture and Lukoil will hold the
remaining 51%, the company said.
Both companies will seek shale oil in the Bazhenov formation in
Siberia in an area of 2,700 square kilometers.
The companies didn't provide information over amounts to be
invested in the project.
-Write to Inti Landauro at inti.landauro@wsj.com
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