KazMunayGas Bought a 60% Share in The Production Sharing Agreement at The Dunga Field
JSC NC KazMunayGas announced the completion of the acquisition from TotalEnergies EP Danmark A/S (a subsidiary of TotalEnergies) of 100% of shares in the authorized capital of Total E&P Dunga GmbH and ownership rights in the Dunga subsoil use project, respectively, in accordance with terms of the purchase and sale agreement previously signed between KMG and TotalEnergies EP Danmark A/S. The Kazinform agency reports this with reference to the KMG press service.
Both parties note that the completion of the transaction once again demonstrates complete mutual understanding between the companies in various areas of cooperation.
The Dunga oil and gas field is located in the Tupkaragan district of the Mangistau region of the Republic of Kazakhstan. It was opened in 1966. The Dunga project is being implemented under the Production Sharing Agreement (PSA). The current participants in the PSC are Total E&P Dunga GmbH (60%), Oman Oil Company Limited (20%) and PTT Exploration and Production (20%).
TotalEnergies is a global multi-energy company producing and trading energy resources: oil and biofuels, natural gas and green gases, renewable energy and electricity. More than 100,000 TotalEnergies employees are committed to making energy more affordable, greener, more reliable and accessible to as many people as possible. With operations in nearly 130 countries, TotalEnergies puts sustainability in all its dimensions at the center of its projects and operations to improve people’s well-being.
JSC National Company KazMunayGas is the leading vertically integrated oil and gas company in Kazakhstan. KMG manages assets across the entire production cycle from exploration and production of hydrocarbons to transportation, processing and provision of specialized services. The company, founded in 2002, represents the interests of Kazakhstan in the country’s oil and gas industry.
