Total’s Oil Field Comes Under Review

State pressure on foreign oil companies intensified Wednesday as the Natural Resources Ministry said it was reviewing whether to revoke Total’s production sharing agreement for its Arctic Khoryaga oil field.

The announcement came just two days after the ministry revoked Shell’s environmental license at its Sakhalin-2 gas fields, calling into question the future of the country’s largest foreign investment project.

The review of Total’s project could sour a trip by President Vladimir Putin to Paris on Friday. Energy talks there are also likely to focus on Total’s bid for a place in Gazprom’s Shtokman gas field in the Arctic.
Moscow Times