Total and Zarubezhneft have agreed to adjust their participation in the Kharyaga Production Sharing Agreement whereby Total will transfer a 20% interest together with operatorship to Zarubezhneft.

Following the completion of the transaction Total will retain a 20% interest in Kharyaga alongside Zarubezhneft (40%, operator), Statoil (30%) and Nenets Oil Company (10%). The transaction is subject to the approval of the Russian authorities.

Tags: Total, Zarubezhneft