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Total Keeps Novatek, Lukoil Russian Plans, Nefte Compass Says

Total SA is sticking with investment plans in Russia including a joint venture with OAO Lukoil for shale oil exploration in Western Siberia, Nefte Compass reported, citing an executive.

U.S. sanctions against Russian officials including OAO Novatek shareholder Gennady Timchenko won’t affect that company or its Yamal LNG project, Jacques de Boisseson, Total’s head of exploration and production in Russia, was quoted as saying in an interview published in Nefte Compass. A Total spokesman in France confirmed the contents of the published interview.