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A subsidiary of French supermajor Total has announced that it has transferred a 10% interest in the Kharyaga oil field to the state-owned Zarubezhneft of Russia.
The transfer is part of a production sharing agreement signed by the two companies in 1999 that stipulated that a Russian partner would take a stake in the project.
“This new collaboration with Zarubezhneft gives an additional boost to Total’s projects in Russia,” Yves-Louis Darricarrère, president, Total Exploration & Production said.
“The addition of Zarubezhneft as a partner in the Kharyaga field will further strengthen relations between Russian oil companies and Total,” he added.
Total is operator of phases 2 and 3 of the Kharyaga field, which is located in the Nenets Autonomous District. The development of phase 3, which received the go-ahead in December 2007, will increase output to 30,000 barrels per day (bpd), compared to 20,000 bpd in 2008.
Another partner in the field, Norway’s Statoil, is also transferring a 10% interest to Zarubezhneft.
Under the agreement, Total will continue to operate Kharyaga with a 40% interest, along with its partners Statoil (30%), Zarubezhneft (20%) and Nenets Oil Company (10%).
