Speaking at a press conference, Christophe de Margerie, Total's president of exploration and production, said: "We [Total and LUKoil] are alike in our approaches and use similar work methods, both in the oil sphere and in the gas sphere."
When asked whether Total would consider partnering with Russian-British joint venture TNK-BP, de Margerie said it was possible.
Total is also willing to consider other cooperation and partnership projects with Russian companies who want to work with a foreign partner to develop deposits for which they hold licenses, he said.
De Margerie cited LUKoil and Russian state-owned companies Rosneft and Zarubezhneft as examples.
Total, headquartered in Paris, is the fourth largest oil and gas company in the world, with operations in more than 130 countries and average daily production of liquid and natural gas at around 2.6 million barrels of oil equivalent. In addition to its upstream operations, the company is also involved in the refining, marketing, and international trading and shipping of oil products.
LUKoil is the world's second largest private oil company by proven hydrocarbon reserves, accounting for around 1.3% of global oil reserves and 2.1% of global oil production. The company dominates the Russian energy sector, with 18% of the country's total oil production and 18% of its oil refining. Its proven oil reserves at the start of 2005 totaled 15,972 million barrels.
