BAKU, Azerbaijan, October 6
By Nargiz Sadikhova - Trend:
French Total will invest nearly 70 billion tenge ($164.7 million) in the third phase of Dunga oil field development, Kazakhstan’s Minister of Energy Magzum Mirzagaliyev said, Trend reports citing Kazakh Energy Ministry.
Mirzagaliyev noted that the project’s implementation will increase the country’s oil production by 25 percent.
"The oil production will increase from 680,000 tons up to 860,000 tons per year. Thanks to the construction works some new 400 jobs will also be created," said Mirzagaliyev.
Active in Kazakhstan since 1993, Total employs about 380 people in the country. The company is one of the main shareholders in the North Caspian Project consortium in charge of developing the giant Kashagan field (16.81 percent), and it operates the Dunga project (60 percent).
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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