French company Total has acquired 50% stake in Kazakh assets Polish Petrolinvest

/IRBIS, March 17, 2010/ - The French oil and gas company Total has signed an agreement to acquire 50% stake in the Kazakh concession under the administration of OilTechnoGroup (OTG), the Kazakh branch of the Polish company Petrolinvest, -it's indicated in the report published by Total today. As indicated, the assets included about 5,500 square kilometers in north-western Kazakhstan. The transaction, subject to the approval of the Government of Kazakhstan has expanded its portfolio Total in Kazakhstan. As an operator's license, Total will begin work on a program that includes exploration seismic data and drilling wells. The well is drilled on the license, the results - hopefully. "The acquisition of shares in the concession run by OTG, allows the group to expand its expertise in deep drilling operations as an operator in Kazakhstan, in the field with a promising potential", - presented the report of speech by Yves- Louis Darrikarrera, president of Total's exploration and production. As indicated, Total is present in Kazakhstan since 1992, with 16.8% share in the North-Caspian project, which includes the giant fields like Kashagan, operated by the North Caspian Operating Company. Kashagan is scheduled to be commissioned in late 2012. [2010-03-17]