PARIS (Agefi-Dow Jones)–TotalEnergies on Wednesday announced the sale of its 20% stake in the Kharyaga oil field in northern Russia to state-owned Zarubezhneft.
“In line with our principles of action set out on March 22 concerning our withdrawal from Russian oil, and in line with the transfer of the role of operator to Zarubezhneft and the reduction of our interests from 40 to 20% in 2016, TotalEnergies agreed on the transfer to Zarubezhneft of the residual 20% interest that the company held in the Kharyaga oil field,” the group said in a statement sent to the Agefi-Dow Jones agency.
“This transaction is subject to the agreement of the Russian authorities,” added the energy company.
The French group announced at the end of March that it would stop its purchases of Russian oil or petroleum products “at the latest at the end of 2022”. TotalEnergies, however, continues to purchase Russian gas under long-term contracts and also holds a 19.4% stake in the Russian gas producer Novatek.
-Francois Schott, Agefi-Dow Jones; 01 41 27 47 92; [email protected] ed: LBO
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July 06, 2022 10:10 ET (14:10 GMT)