Total Farms into the Bokhtar PSC Area in Tajikistan with a 33.335% Interest
PARIS -- December 21, 2012
Total (Paris:FP) (LSE:TTA) (NYSE:TOT) announced that it had signed an
agreement with Kulob Petroleum, a subsidiary of Tethys Petroleum, to farm into
the Bokhtar PSC Area in Tajikistan with a 33.335% interest. Under the
agreement, signed jointly with state-owned CNODC (a subsidiary of CNPC) of
China, Total and CNODC will each hold a 33.335% interest in the PSC, while
Kulob will retain a 33.33% stake. The agreement is subject to the approval of
the Tajikistan government.
The Bokhtar PSC covers an area of 35,000 square kilometers at the eastern end
of the prolific Amu Darya Basin. A number of giant gas discoveries have
already been made in the basin’s Jurassic carbonate reservoirs.
On completion of the transaction, Total will acquire an interest in the
Tajikistani sector of the Amu Darya Basin, it will be partnered with CNPC.
Operations will be conducted jointly, through an operating company. Tethys has
already acquired seismic data with the intention of identifying the location
of the first exploration well by end-2014.
“This acquisition is aligned with our bolder exploration strategy and
positions Total in one of the world’s most prolific gas basins,” said Michael
Borrell, Senior Vice President, Continental Europe and Central Asia, Total
Exploration & Production. “The partnership between Total, CNPC and Tethys is
particularly well equipped to conduct successful exploration and potentially
develop a value-creating project.”
Total Exploration & Production in Central Asia
Total has actively expanded its operations in Central Asia since the early
1990s, until now focusing primarily on the Caspian Sea.
The Group has been present in Kazakhstan since 1992 and owns 16.8% interest in
the North Caspian PSC, which contains the giant Kashagan field. Operated by
the joint North Caspian Operating Company (NCOC), the Kashagan field is
scheduled to come on stream in 2013. In early November 2012, Total acquired a
75% interest in the onshore Nurmunai North and South exploration blocks. It
has also partnered with state-owned KazMunaiGaz (KMG) to develop the
Khvalynskoye field in the Caspian Sea on the border between Russia and
The Group has been present in Azerbaijan since 1996 with a 10% interest in the
Shah Deniz field in the Caspian Sea. It has also held a 40% interest in the
Absheron license in the Caspian Sea, where a significant discovery has been
made, since February2009. A notice of discovery and commerciality for the
find was submitted onJune1,2012.
Total is one of the largest integrated oil and gas companies in the world,
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,
refining and marketing, new energies, trading, and chemicals. Total is working
to help satisfy the global demand for energy, both today and tomorrow.
Tel. : (33) 1 47 44 58 53
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Robert HAMMOND (U.S.)
Tel. : (1) 713-483-5070
Fax: (1) 713-483-5629
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