Kazakhstan: TotalEnergies Implements its Energy Transition Strategy
01 Dezembro 2022 - 4:32AM
Business Wire
TotalEnergies Sells its Interest in the
Dunga Oil Field and Progresses Towards the Implementation of a 1 GW
Wind Energy Project
Regulatory News:
TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) implements its
energy transition strategy in Kazakhstan with, on the one hand, the
sale of its affiliate Total E&P Dunga GmbH and, on the other
the giant Mirny wind farm project that received the support of the
French and Kazakh authorities on the occasion of the visit in
France of the President of Kazakhstan, Kassym Jomart Tokayev.
On November 28, 2022, TotalEnergies signed an agreement for the
sale of its affiliate Total E&P Dunga GmbH to the Kazakh
company, Oriental Sunrise Corp Ltd, for an amount of $330 million.
Total E&P Dunga GmbH holds a 60% 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 also strengthens its presence in renewable energy
in the country. In addition to its two solar power plants in
operation (with a capacity of 128 MW), Total Eren has signed an
agreement with its partners Samruk-Kazyna and KazMunayGas to
develop the Mirny project, the largest wind energy project ever
initiated in Kazakhstan. This project is part of the
intergovernmental agreement on the implementation of cooperation in
the field of combating global warming, signed yesterday by France
and Kazakhstan. The 200 wind turbines, totaling 1GW of installed
capacity, will be combined with a 600 MWh battery storage system.
The project will supply more than 1 million people in Kazakhstan
with low-carbon electricity.
"TotalEnergies is fully committed to providing its expertise and
know-how to develop Kazakhstan's natural resources, as we are doing
as partner of the giant Kashagan field. These agreements
demonstrate TotalEnergies' energy transition strategy. On the one
hand, we dynamically manage our portfolio by disposing of mature,
non-core assets such as the Dunga field. On the other, we are very
proud to support the country’s low carbon development ambition
through the major Mirny wind project “, said Patrick Pouyanné,
Chairman and CEO of TotalEnergies.
***
TotalEnergies in Kazakhstan Active in Kazakhstan since
1992, TotalEnergies is one of the main shareholders (16.81%) in the
North Caspian Project consortium in charge of developing the giant
Kashagan field and operates the Dunga field (60%). The Company is
also expanding a distribution network in Central Asia for
TotalEnergies-branded lubricants, developing renewable energy
projects via its subsidiary Total Eren, and providing leading
industrial power storage solutions via its subsidiary Saft.
About TotalEnergies TotalEnergies is a global
multi-energy company that produces and markets energies: oil and
biofuels, natural gas and green gases, renewables and electricity.
Our more than 100,000 employees are committed to energy that is
ever more affordable, cleaner, more reliable and accessible to as
many people as possible. Active in more than 130 countries,
TotalEnergies puts sustainable development in all its dimensions at
the heart of its projects and operations to contribute to the
well-being of people.
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company” or “Company” in this document are used to designate
TotalEnergies SE and the consolidated entities that are directly or
indirectly controlled by TotalEnergies SE. Likewise, the words
“we”, “us” and “our” may also be used to refer to these entities or
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or indirectly owns a shareholding are separate legal entities. This
document may contain forward-looking information and statements
that are based on a number of economic data and assumptions made in
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risk factors. Neither TotalEnergies SE 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. Information concerning risk factors, that may affect
TotalEnergies’ financial results or activities is provided in the
most recent Universal Registration Document, the French-language
version of which is filed by TotalEnergies SE with the French
securities regulator Autorité des Marchés Financiers (AMF), and in
the Form 20-F filed with the United States Securities and Exchange
Commission (SEC).
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