Sibneft Attracts Interest Of Total

Russian government Monday it would welcome a bid by French oil company Total to purchase a 25 percent stake in home oil major Sibneft.
According to a senior Kremlin source, the authorities were "aware of Total's plans to develop its relationship with its Russian partners."
Its not the first time when a major western oil company is interested in a stake in Sibneft. With few options to increase reserves elsewhere in the world, oil majors have been lining up at Russia's door for the chance to tap its huge reserves.
In March, media reported that Anglo-Dutch giant Royal Dutch/Shell, U.S. ChevronTexaco and Total were all looking to buy some 46 percent in the company, which is currently struggling to demerge from Yukos.
Both Sibneft and Total refused to comment on what they called market rumors. "Total has other green field projects in Russia so that doesn't necessarily mean the Kremlin was talking about us," Sibneft spokesman John Mann said, referring to the source's comments.