Total Acquires Stake in Two Kazakh Exploration Blocks

Total has said that it has acquired 75% interest in two Kazakhstan concessions, the North and South blocks, previously operated by Nurmunai Petrogas.

These two onshore blocks cover an area of approximately 14,500 square kilometers and are located in southwestern Kazakhstan.

The transaction, which was recently approved by the Kazakh authorities, broadens the Freanch firm’s upstream portfolio in Kazakhstan beyond its existing Caspian Sea assets. As the new operator of the licenses, Total will acquire seismic data and subsequently drill a well in 2013.

Total has been present in Kazakhstan with the company’s 16.8% stake in the North Caspian permit, which includes the giant Kashagan field operated by the North Caspian Operating Company (NCOC).