BAKU, Azerbaijan, December 2. TotalEnergies sells its Total E&P Dunga GmbH affiliate to Kazakhstan’s Oriental Sunrise Corp Ltd for $330 million, Trend reports citing the press service of the company.
French energy giant said that the step is aimed to assist the energy transition goals of Kazakhstan. Instead, the company will focus on renewable energy production in Central Asia, including a 1 GW wind farm project.
Total E&P Dunga GmbH holds a 60 percent operating interest in the onshore Dunga oil field in Kazakhstan, representing a net production of approximately 7,400 barrels of oil equivalent per day in 2022. The transaction is subject to the approval of the authorities of Kazakhstan and the waiver of the partners’ preemption rights.
TotalEnergies has been active in Kazakhstan since 1992, and it is one of the main shareholders (16.81 percent) in the North Caspian Project consortium.