MOSCOW. Dec 29 (Interfax) - Russia will be able to develop shale oil even without foreign partners, but this is not profitable at current oil prices, Lukoil president Vagit Alekperov said in an interview with Interfax.

He recalled that Lukoil has felt the impact of sanctions in regard to shale oil development, "because the operations of our joint venture with Total have now been frozen."

"Because these restrictions directly affect our western partners. And, of course, we're not pushing them to violate sanctions and they won't do this. So this joint venture, the documents are now signed, it has suspended its operations," Alekperov said.

Asked whether Russian companies will be able to develop Bazhenov shale in future without foreign partners, he said: "In any case, all projects that will not fit into the economics of $60 or the future price, of course, they will be postponed."

"We're after all working on economically efficient projects. Of course, these projects will be postponed - those that won't fit within the bounds of earning profits at the current oil price," Alekperov said, adding that developing Bazhenov shale oil is currently an "extremely expensive affair."

"Right now we're only doing trial work, because this is very expensive [