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
 -  Police Probe into JKX Subsidiary Conti... (Jul 25)
 -  PETRONAS Awards SK410B PSC Offshore Ma... (Jul 22)
 -  LTHE-ECS JV Bags $1.6B EPCI Deal from ... (Jul 22)
 -  NauticAWT, ENRA Sets Up JV to Tap Busi... (Jul 22)
 -  Australia's Santos Post 2Q 2016 Sales ... (Jul 22)


Most Popular Articles

From the Career Center
Jobs that may interest you
Regional Manager - Saybolt
Expertise: Executive|Operations Management|Surveying
Location: Linden, NJ
 
Manager of Financial Planning and Analysis
Expertise: Executive|Financial Analyst|Financial Audit
Location: Florida, United States
 
Project Manager - Gas Distribution
Expertise: Project Management
Location: California, United States, CA
 
search for more jobs

Brent Crude Oil : $45.69/BBL 1.10%
Light Crude Oil : $44.19/BBL 1.25%
Natural Gas : $2.77/MMBtu 2.97%
Updated in last 24 hours