Headquarters of TotalEnergies in Courbevoie, France. (Source: Shutterstock)
TotalEnergies unveiled on Dec. 1 the sale of its affiliate Total E&P Dunga GmbH in Kazakhstan as part of the French energy giant’s plans to develop the largest renewable wind energy project in the Central Asian country.
Sold to Kazakh company Oriental Sunrise Corp. Ltd. for $330 million on Nov. 28, the sale of Total E&P Dunga GmbH is subject to Kazakhstan authority approval and the waiver of the partners’ preemption rights. Total E&P Dunga GmbH has a 60% operating interest in the onshore Dunga oil field, which had an approximate net production of 7,400 bbl/d of oil in 2022.
With the sale of the onshore Dunga oil field, TotalEnergies demonstrates a transition in their energy strategy, signing with partners Samruk-Kazyna and KazMunayGas to develop the Mirny project in Kazakhstan alongside its two solar power plants already in operation.
“We dynamically manage our portfolio by disposing of mature, non-core assets such as the Dunga field,” said Patrick Pouyanné, chairman and CEO of TotalEnergies, in a company release. “We are very proud to support the country’s low carbon development ambition through the major Mirny wind project.”
The Mirny project is the largest wind energy project ever begun in Kazakhstan and an illustration of the intergovernmental agreement signed Nov. 30 between France and Kazakhstan to increase cooperation to combat global warming. The project will supply more than 1 million Kazakhs with low-carbon electricity through its 200 wind turbines totaling 1 GW of installed capacity, integrated with a 600 MWh battery storage system.
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