Total, the French oil giant, is understood to be close to hiring Lehman Brothers as an adviser on the potential purchase of a 25% stake in Sibneft, the Russian oil company controlled by billionaire football club owner Roman Abramovich.

Total is understood to have mandated Lehman Brothers after winning preliminary backing from the Russian government to take a 25% stake worth around $4bn (€3.36bn )in Sibneft.