Total ‘grabs Russian shale oil blocks’
03 April 2014 10:28 GMT
Salym to spotlight Bazhenov formation
30 August 2013 12:00 GMT
Bazhenov shale in focus for Russia and partners
14 March 2014 12:00 GMT
Shell and Gazprom Neft take aim at Bazhenov’s oil potential
07 March 2014 12:00 GMT
23 May 2014 10:37 GMT
The French major and the Russian independent are team up on an initial four blocks under the joint venture, which saw a memorandum of understanding last December.
Total chief executive Christophe de Margerie said that the Bazhenov was “one of the world’s largest shale oil formations” and held “huge potential”.
He said the tie-up would seek to combine Total’s international expertise with Lukoil’s operating experience in the region.
Lukoil will hold 51% of the venture while Total will hold 49%.
The four licences, three of which were Total’s and one Lukoil’s, cover an area of 2700 square kilometres in the Khanty-Mansi Autonomous District.
The duo plan to start seismic acquisition later this year and begin drilling next year on the Lyaminskiy 3, Vostochno-Kovenskiy, Tashinskiy and Galyanovsky licences.
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