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Total's shares of Kashagan, Kazakhstan not for sale

May 30/ 08:17

Baku. Kanat Bozumbaev, the Minister of Energy of Kazakhstan stated, that the reports, which claim that French company Total is selling their share in Kazakhstan’s Kashagan oil field are false, Trend reports via Interfax-Azerbaijan.

“This is the first time I’m hearing this. Last week Arno Breyak, Total Director of the Middle East Region for Oil Exploration and Production visited Kazakhstan and met up with Askar Mamin, the Prime Minister of Kazakhstan. During the visit no negotiations on the topic of sale took place,” said Bozumbaev.

Kashagan is the first Caspian sea oil field of Kazakhstan, as well as the largest investment project of the country. The marketed production of oil on the field began on November 1, 2016.

The North Caspian Project is the first major offshore oil and gas development in Kazakhstan. It covers five fields: Kashagan, Kalamkas-Sea, Kairan, Aktoty, and Kashagan South West.

Shareholders NCOC are KMG Kashagan B.V. (16,9 percent), Shell Kazakhstan Development B.V. (16,8 percent), Total EP Kazakhstan (16,8 percent), AgipCaspian Sea B.V. (16,8 percent), ExxonMobil Kazakhstan Inc. (16,8 percent), CNPC Kazakhstan B.V. (8,3 percent), Inpex NorthCaspian Sea Ltd. (7,6 percent).

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