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.