Total sells shares in Kharyaga field

10 percent of Total’s share in the oil-field on the Nenets tundra is sold to the state-owned Zarubezhneft.


Total E&P Russie, a wholly-owned subsidiary of France Total, continues to keep a 40 percent interest in the Kharyaga oil field. The other partners are Norwegian oil major Statoil (30%), Zarubezhneft (20%) and Nenets Oil Company (10%).

Total is operator of phases 2 and 3 of the Kharyaga field. The development of phase 3, which received the go-ahead in December 2007, will increase output to 30,000 barrels per day compared to 20,000 barrels per day in 2008, Total writes in a press-release.