Russian oil companies Gazprom Neft and Lukoil formed a joint venture, the official press release of the companies says. Lukoil’s share in the JV makes up 49%, Gazprom Nef in its turn owns 51% of the new business. The new joint venture has been set up for geological exploration, oil production, oilfield construction, implementation of infrastructural projects and transportation of hydrocarbons. The companies announced their intention to form a JV in May, 2007.
      
      Lukoil is the Russia’s largest privately-owned oil company with capitalization of about $73 billion.
      
      Gazprom Neft is a company controlled by the Russian gas monopolist Gazprom.
      
      source:
      www.lenta.ru