Total does not hold on to the Kharyaga.
Edited by Rhod Mackenzie / 2015-10-19 06:33:24
The company will give half of its stake and operatorship to "Zarubezhneft".
France's Total will still reduce its stake in its oldest project in Russia – development of the Kharyaga field. The company will transfer 20% of its 40% owned by another participant Kharyaga project to the state "Zarubezhneft". Together with an increase in the proportion "Zarubezhneft" will get the status of the operator. According to analysts, the volume of deal could be worth about $ 150 million, the reduction of the share in this small and disputed assets with decreasing production is not the worst option for Total.
