News 2012#6 (78), December 2012
French oil and gas company Total has acquired a 75 % interest each in two concessions on the development of Northern and Southern blocks in the southwest part of Kazakhstan where earlier the operator was the Kazakhstan company Nurmunai Petrogas, informed the French company.
The two blocks occupy the area of about 14.5 thousand sq. km. The French company has stressed that the deal earlier approved by the authorities of Kazakhstan expands the company’s portfolio in the production segment. As a new operator of licenses Total intends to drill the first well in 2013.
“Acquisition of shares in two concessions of Nurmunai Petrogas corresponds to our strategy in the exploration segment and strengthens our presence at Kazakhstan, said Iv Lui Dericarrer, the company’s vice-president on exploration and production. Total is operating in Kazakhstan since 1992, informs News-Kazakhstan Information Agency.