Rosgeology, Lukoil talking JV for Caspian operations
MOSCOW. July 22 (Interfax) - The Russian state holding Rosgeology is negotiating with oil major Lukoil over the creation of a joint venture for carrying out projects in the Caspian Sea, the holding's chief Roman Panov told the press.
Rosgeology is also discussing the possibility of working with Rosneft in the development of the Bazhenov shale formation, and with Gazprom .
"They are discussion and negotiating with a series of resource-users. With Lukoil there is a project that is being substantively discussed," Panov said, meaning the Caspian project. He did not specify the terms for setting up a JV, but did say this is also a subject of negotiation.
"With Rosneft is being discussed the issue of the Bazhenov suite, but this is also a subject of negotiation, and it needs to be worked on in detail," he said.
Negotiations with Gazprom are for now general in nature, as the company have to determine whether it is the creation of a JV or whether Rosgeology will act as a subcontractor, Panov said.