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TotalEnergies signs deal to build a large wind plus storage project in Kazakhstan

December 01, 2022

S&P Capital IQ ($):

TotalEnergies SE signed two separate oil and wind project deals intended to support its energy transition strategy in Kazakhstan.

The company has partnered with Samruk-Kazyna and KazMunayGas to develop a 1-GW wind energy project plus 600-MWh battery energy storage system in the country. This project is expected to supply electricity to more than 1 million people in Kazakhstan, according to a Dec. 1 news release.

In another deal, TotalEnergies agreed to sell its affiliate Total E&P Dunga GmbH to Kazakh company Oriental Sunrise Corp. Ltd. for $330 million.

Total E&P Dunga owns a 60% operating interest in the onshore Dunga oil field in Kazakhstan, representing a net production of approximately 7,400 barrels of oil equivalent per day in 2022.

The Total E&P Dunga transaction is subject to the approval of Kazakh authorities and the waiver of the partners' preemption rights.

[Nephele Kirong]

More: TotalEnergies plans 1-GW wind project, sells E&P unit in Kazakhstan

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