Russia 's OAO Gazprom Neft (SIBN.RS), the oil arm of state gas firm OAO Gazprom (GAZP.RS), has signed an agreement with France 's Total S.A. (TOT) to form a joint venture to produce and sell modified bitumen and bitumen emulsions on the Russian market, Gazprom Neft said in a statement Thursday.  

Each partner will have a 50% stake in the joint venture, which will build a special production facility at Gazprom Neft's Moscow oil refinery. The facility will have a capacity of 60,000 metric tons of polymer-modified bitumens and 7,000 tons of bitumen emulsions per year.
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