Lukoil and Total in Talks to Develop Global Exploration

Russian oil producer Lukoil Holdings and France’s Total SA are considering joint exploration projects in western Africa, Colombia and Kazakhstan, Lukoil said.

The two companies are expected to jointly develop the Khvalynskoye offshore field located in the Caspian Sea, for which Lukoil holds the licence.

The two companies may collaborate in Colombia, where they have blocks situated closer to each other, and in Ivory Coast and Ghana, where Lukoil began exploration drilling work at one of four offshore blocks, according to Dow Jones.

The two companies have already joined forces at the Azerbaijan-based Shah Deniz development, in which each holds a 10% interest.