Total Buys Kazakhstani Onshore Assets

France's Total announced Friday that it has acquired a 75-percent interest in two Kazakhstani concessions that cover approximately 5,575 square miles in the southwest of Kazakhstan.

The onshore blocks, dubbed the 'North' and 'South' blocks, were previously operated by Kazakh firm Nurmunai Petrogas.

Total said that the transaction, which was recently apprioved by the Kazakh authorities, broadens its upstream portfolio in Kazakhstan beyond the company's existing Caspian Sea assets. As the new operator of the licenses, Total will acquired seismic data and subsequently drill a well in 2013.

Yves-Loius Darricarrère, Total's president for it upstream business, commented in a company statement:

"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."


 

 



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Europa Oil & Gas Signs PEDL143 Farm-Ou... (May 23)
 -  Real Energy Commences Fracture Stimula... (May 23)
 -  At-13 Well in Algeria Hits 240-Foot Ga... (May 23)
 -  Wintershall Makes Small North Sea Disc... (May 23)
 -  Malaysia's DNeX Oilfield Receives LOA ... (May 20)


Most Popular Articles

From the Career Center
Jobs that may interest you
Permitting Manager
Expertise: Construction Manager|Facilities Engineer|Landman
Location: US
 
Production Operator (Lease Operator)
Expertise: Helicopter Pilot / Operations|Laboratory Ops / Tech|Legal|Mechanic|Production Operator|ROV Ops / Tech
Location: Midland, TX
 
Records Specialist (Finance Service Center)
Expertise: Accounting|Customer Service|Document Control|Legal|Security
Location: Houston, TX
 
search for more jobs

Natural Gas : $2.05/MMBtu 0.48%
Brent Crude Oil : $48.35/BBL 0.75%
Light Crude Oil : $48.08/BBL 0.69%
Updated in last 24 hours