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UpstreamOnline: France monitoring Total in Russia

President Chirac

By Upstream staff

France is following closely the status of French oil company Total in Russia, a spokesman for French President Jacques Chirac said.

“The situation with Total is that we are looking at things with vigilance with the concern that French investments should enjoy all necessary legal security,” Chirac’s spokesman told reporters at a briefing.

He was speaking ahead of a meeting between Chirac and Russian President Vladimir Putin in Paris.

The meetings come as Moscow has sparked concern by flexing its economic muscles with firms like Royal Dutch Shell over huge oil and gas projects in the remote Sakhalin region.

Ominously for Paris, the dispute has also threatened to affect Total over production sharing at its Kharyaga project in West Siberia.

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