TotalEnergies sells interest in Kazakhstan's Dunga oil field

TotalEnergies TTE said on Thursday it had agreed to sell its interest in the Dunga Oil field to Kazakh company, Oriental Sunrise Corp Ltd, for $330 million while strengthening its presence in renewable energy in the country.

Total E&P Dunga GmbH holds 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 statement said.

In addition to its two solar power plants in operation (with a capacity of 128 MW) in Kazakhstan, Total signed an agreement to develop the Mirny project, the largest wind energy project ever initiated in Kazakhstan with a total 1 GW of installed capacity.