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2014-04-04 18:38:00

TOTAL EXPLORE RUSSIA

TOTAL EXPLORE RUSSIA

SE. According to West Siberia's governor, Total has managed to get the rights to explore three oil blocks – Vostochno-Kovensky, Tashinsky and Lyaminsky - in the Russian region, although Reuters has said the energy giant has not confirmed the news as a spokesperson declined to comment.
Total has always been interested in Russia's shale oil, and it is possible that the country's shale resources are the biggest in the world: according to US EIA estimates, it could have 75 billion barrels, compared to the USA's 58 billion.
Moreover, the threat of sanctions against Russia in light of the Ukraine crisis has not deterred Total to continue talks with Russia's Lukoil to explore shale in the Urals.
Other companies that are developing shale oil in Russia are ExxonMobil, Statoil and Shell and will help the country maintain its current oil output which stands at around 10 million barrels per day.

Tags: TOTAL, SHALE, RUSSIA