Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/total-to-acquire-50-interest-in-kazakhstan-concess.shtmlTotal to acquire 50% interest in Kazakhstan concession
Total has signed an agreement to acquire a 50% interest in Kazakhstan's Concession held by OilTechnoGroup (OTG), the Kazakh subsidiary of Poland's Petrolinvest.
Edit page New page Hide edit links
Total has signed an agreement to acquire a 50% interest in Kazakhstan's Concession held by OilTechnoGroup (OTG), the Kazakh subsidiary of Poland's Petrolinvest. The roughly 5,500-square-kilometre onshore license presently being explored is located in northwestern Kazakhstan.
The transaction, subject to the Kazakh government approval, broadens Total's portfolio of acreage in Kazakhstan. As operator of the license, Total will proceed with a work program that includes reprocessing of seismic data and drilling of a well. A well has already been drilled on the license, with encouraging results.
'The acquisition of the stake in the concession held by OTG allows the Group to deploy its deep drilling expertise as an operator in Kazakhstan in a region with promising potential,' said Yves-Louis Darricarrère, President, Total Exploration & Production.
