Total Sells Its 10% Interest In Shah Deniz To TPAO
Total today signed an agreement to sell its 10% interest in the Shah Deniz field and the South Caucasus Pipeline to TPAO, the Turkish state-owned E&P company. The transaction is valued at $1.5 billion and is subject to customary approvals. “The sale of our interest in Shah Deniz is in …
LUKoil and Total Sign Unconventional Joint Venture
As part of the St. Petersburg International Economic Forum 2014, Vagit Alekperov, OAO LUKOIL President, and Christophe de Margerie, CEO and Chairman of Total Group’s Board of Directors, agreed on general conditions of participation in a joint project focused on the exploration and development of unconventional hydrocarbon reserves in the Khanty-Mansi Autonomous Okrug-Yugra …
Total To Join Russian Shale Plays
French oil major Total has secured the rights to explore three hard-to-recover oil blocks in West Siberia, according to a statement on the website of the Russian region’s governor. Total will join other majors, ExxonMobil, Statoil and Royal Dutch Shell, to develop Russian shale oil, a key driver in Moscow’s …
Tethys Petroleum: Annual Report
Tethys Petroleum Limited today announced its Annual Results for the year ended December 31, 2013. Corporate Highlights — Completion of a farm-out of 66.66% of the Tajik Bokhtar Production Sharing Contract agreement to subsidiaries of Total Exploration and Production SA and China National Petroleum Corporation for USD63.4 million — Conditional …
NCOC Appeals $737 mln Ecological Flaring Fine on Kashagan
A consortium developing Kazakhstan’s huge Kashagan oilfield said it had appealed a 134.2 billion tenge ($737 million) fine by a regional Kazakh authority for ecological damage at the site in the Caspian Sea reported Reuters. The fine adds to the woes of the multinational group, which has already spent about …
Yokogawa Wins Control System Order for Yamal LNG Project
Yokogawa Electric Corporation is pleased to announce that its subsidiary Yokogawa Europe Solutions B.V. has been awarded a contract by Yamgaz, a consortium of Technip and JGC Corporation, to supply integrated control and safety systems (ICSS) for the Yamal LNG Project to build a liquefied natural gas plant and other …
Novatek: Final Investment Decision Made on the Yamal LNG Project
OAO NOVATEK announced today that the Board of Directors of Yamal LNG approved a final investment decision for the Yamal LNG project, consisting of the development of the South-Tambeyskoye gas condensate field and the construction of a natural gas liquefaction plant on the Yamal Peninsula (the “Project”). All of the …
Enel: Completes $1.8bn Sale of SeverEnergia to Rosneft
Italy’s biggest utility Enel has completed the $1.8 billion sale of its stake in Russian natural gas producer SeverEnergia to Kremlin-controlled Rosneft, despite resistance from other shareholders reported Reuters. The deal has increased tensions between Russia’s oil barons, a headache for Russian President Vladimir Putin as he looks to boost …
Kashagan: Christophe de Margerie “Not to Restart Before the End of the Year”
Kazakhstan’s giant Kashagan oilfield will not be able to restart production before the end of 2013, the chief executive of French oil company Total , one of the partners in the project, said on Sunday, reported Reuters. Kazakhstan has been looking forward to revenues from Kashagan, the world’s costliest oil …
Tethys Petroleum: Tajik Bokhtar PSC Farm-out Deal to Total and CNPC Completed
Tethys Petroleum Limited announces the completion of the farm-out agreement announced in December 2012 with subsidiaries of Total Exploration and Production and China National Petroleum Corporation whereby each acquired a one third interest in its Bokhtar Production Sharing Contract in Tajikistan. The Bokhtar PSC covers an area of some 35,000 …