TotalEnergies seals deal to sell stake in oil project after state oil company forced its hand

Deal done: TotalEnergies chief executive Patrick Pouyanne. Photo: REUTERS/SCANPIX TotalEnergies seals deal to sell stake in oil project after state oil company forced its hand

Transaction comes as Kazakh state-run company reports worsening financial results

Оригинальный текст опубликован на сайте «Upstream», 23 November 2023 4:42 GMT . Автор: Vladimir Afanasiev Материал доступен по ссылке.

Kazakh state-run oil and gas company KazMunayGaz has completed a deal with TotalEnergies to buy the French supermajor’s stake in the Dunga oil development in Kazsakhstan’s Mangistau region.

KazMunayGaz insisted on the deal this past northern hemisphere summer after using provisions in Kazakh law to block TotalEnergies’ earlier agreement with privately held Kazakh investor Oriental Sunrise, which had committed to buy the shareholding in Dunga for $330 million.