Kazakhstan: Total Launches Phase 3 of the Dunga Field
July 04 2019 - 5:00AM
Business Wire
Regulatory News:
Total (Paris:FP) (LSE:TTA) (NYSE:TOT) and its partners have
approved the launch of Phase 3 development of the onshore Dunga
field in the Mangystau Region of western Kazakhstan.
Phase 3 of the Total-operated field will consist of adding wells
to the existing infrastructure and upgrading the processing plant
to increase its capacity by 10% to 20,000 barrels of oil per day by
2022. This will add production of more than 70 million barrels of
reserves.
The development has been made possible thanks to the approval by
the Government of the Republic of Kazakhstan of a 15-year extension
of the Production Sharing Agreement (PSA) for the field, originally
signed in 1994 and due to expire in 2024.
The project requires a $300 million investment and will create
400 more direct jobs in the region at the peak of construction
activity.
“This low-investment-cost-per-barrel development maximizes the
field’s potential and extends plateau production,” said Arnaud
Breuillac, President, Exploration & Production at Total. “This
new development phase, combined with the Dunga field license
extension, helps unlock 70 million barrels of additional reserves,
which represents a significant development for Kazakhstan.”
The Dunga oil field is operated by Total (60%), alongside Oman
Oil Company (20%) and Partex (20%).
Total in Kazakhstan
Active in Kazakhstan since 1992, Total employs about 380 people
in the country.
The Group is one of the main shareholders in the North Caspian
Project consortium in charge of developing the giant Kashagan field
(16.81%) and operates the Dunga project (60%).
Total is also expanding a distribution network in Central Asia
for Total-branded lubricants, developing renewable energy projects
via its subsidiary Total Eren, and providing leading industrial
power storage solutions via its subsidiary Saft.
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About Total
Total is a major energy player that produces and markets fuels,
natural gas and low-carbon electricity. Our 100,000 employees are
committed to better energy that is safer, more affordable, cleaner
and accessible to as many people as possible. Active in more than
130 countries, our ambition is to become the responsible energy
major.
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Cautionary note
This press release, from which no legal consequences may be
drawn, is for information purposes only. The entities in which
TOTAL S.A. directly or indirectly owns investments are separate
legal entities. TOTAL S.A. has no liability for their acts or
omissions. In this document, the terms “Total” and “Total Group”
are sometimes used for convenience where general references are
made to TOTAL S.A. and/or its subsidiaries. Likewise, the words
“we”, “us” and “our” may also be used to refer to subsidiaries in
general or to those who work for them.
This document may contain forward-looking information and
statements that are based on a number of economic data and
assumptions made in a given economic, competitive and regulatory
environment. They may prove to be inaccurate in the future and are
subject to a number of risk factors. Neither TOTAL S.A. nor any of
its subsidiaries assumes any obligation to update publicly any
forward-looking information or statement, objectives or trends
contained in this document whether as a result of new information,
future events or otherwise.
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