In Kazakhstan, TotalEnergies is pursuing its energy transition by selling one of its subsidiaries and developing a wind farm project.
Sale of an oil subsidiary
In Kazakhstan, TotalEnergies sells its subsidiary Total E&P Dunga GmbH. In addition, the French company is developing a giant wind farm in Mirny. This one receives the support of the Kazakh authorities.
TotalEnergies signs an agreement to sell its subsidiary Total E&P Dunga GmbH to the Kazakh company Oriental Sunrise Corp. The amount of the transaction is $330 million. The subsidiary holds a 60% operating interest in the Dunga onshore oil field in Kazakhstan.
The production of the onshore oil field represents in 2022, 7,400 barrels of oil equivalent per day. At the same time, TotalEnergies is also strengthening its presence in renewable energies in Kazakhstan. In addition to its two operating solar plants (with a capacity of 128 MW), Total Eren signs an agreement for Mirny.
A 1GW wind farm
Minrny is part of the cooperation between France and Kazakhstan to fight against global warming. The 200 wind turbines total 1GW of installed capacity. The wind farm includes a 600MWh battery storage system.
The project will provide more than one million people in Kazakhstan with low-carbon electricity. Patrick Pouyanné, Chairman and CEO of TotalEnergies, said:
“TotalEnergies is fully committed to providing its expertise and know-how to develop Kazakhstan’s natural resources, as we are doing as a partner in the giant Kashagan field. These agreements illustrate TotalEnergies’ energy transition strategy. On the one hand, we are dynamically managing our portfolio by divesting mature, non-strategic assets like the Dunga field. On the other hand, we are very proud to support the country’s low-carbon development ambition through the major Mirny wind project.”
TotalEnergies has been present in Kazakhstan since 1992.
TotalEnergies is one of the main shareholders (16.81%) in the North Caspian Project consortium. The Company is also developing a distribution network in Central Asia. The French company develops renewable energy projects through its subsidiary Total Eren.
