Kazakhstan: Total acquires a 75% interest in two onshore exploration blocks
PARIS -- November 08, 2012
Total (Paris:FP)(LSE:TTA)(NYSE:TOT) announces the acquisition of a 75%
interest in two Kazakhstan’s Concessions, the “North” and “South” blocks,
previously operated by Kazakh Company Nurmunai Petrogas LLP.
These two onshore blocks cover an area of approximately 14,500 square
kilometers and are located in southwestern Kazakhstan.
The transaction, which was recently approved by the Kazakh authorities,
broadens Total’s upstream portfolio in Kazakhstan beyond its existing Caspian
Sea assets. As the new operator of the licenses, Total will acquire seismic
data and subsequently drill a well in 2013.
“The acquisition of the stake in the Nurmunai Petrogas Concessions is in line
with Total ambitious exploration strategy and strengthens the presence of the
Group in Kazakhstan where it will deploy its expertise as operator in a region
with promising potential,” said Yves-Louis Darricarrère, President Upstream.
Total Exploration & Production in Kazakhstan
Since 1992, Total has been present in Kazakhstan with the company’s 16.8%
stake in the North Caspian permit, which includes the giant Kashagan field
operated by the North Caspian Operating Company (NCOC).
Kazakhstan is also an integral part of Total’s dynamic exploration strategy:
additional exploration projects are currently under review.
In Kazakhstan, as in all the countries in which it operates, the Group is
committed to minimizing its environmental impact and is a fully engaged and
socially responsible industrial actor. With this regard Total will bring both
operational excellence and environmental performance in the operatorship of
the two new concessions. Indeed, all activities surrounding this project are
to be positively impacted by a number of environmental, economic and societal
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with activities in more than 130countries. The Group is also a first rank
player in chemicals. Its 96,000employees put their expertise to work in every
part of the industry – exploration and production of oil and natural gas,
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to help satisfy the global demand for energy, both today and tomorrow.
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