Financial Times FT.com

Oil

Total and GdF take stake in Kazakh oil field

By Isabel Gorst in Moscow

Published: October 6 2009 13:55 | Last updated: October 6 2009 13:55

Total, the French oil group, moved to bolster its role in the Caspian Sea on Tuesday, entering a partnership with KazMunaigas, Kazakhstan’s state oil company, to develop a large offshore oil and gas field.

Christophe de Margerie, Total’s chief executive, said Total would acquire a 17 per cent stake in the Khvalynskoye gas and condensates deposit from KMG. GdF Suez, the French natural gas company, will take an 8 per cent interest.

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