"We're looking very carefully and how can we, in a right way, participate in terms of where the reserves and the potential production are and how they fit," Mulva said.
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ConocoPhillips/Lukoil Look to Future Projects
ConocoPhillips continues to talk with Russian oil major Lukoil about...
t joint projects in Russia. ConcooPhillips Chief Executive James Mulva stated, "we have been working with Lukoil with respect to how we can be working on possible participation in the development of some properties up in the north."
Still, Mulva said he was less interested in making a major equity investment.
"We're looking very carefully and how can we, in a right way, participate in terms of where the reserves and the potential production are and how they fit," Mulva said.
This dialogue follows ConocoPhillips agreeing to sell 795 Mobil-branded service stations to Lukoil for $265.8 million, helping Lukoil double its U.S. market share. Analysts believe this transaction will reinforce ConocoPhillips' ties with the producer.
"We're looking very carefully and how can we, in a right way, participate in terms of where the reserves and the potential production are and how they fit," Mulva said.
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