Middle East Economic Survey

VOL. LII

No 41

12-Oct-2009

CASPIAN

Total And GdF Suez Farm Into Khvalinskoye License

During a visit by French President Nicholas Sarkozy to Astana on 6 October, Total and GdF Suez signed an agreement to acquire a combined 25% stake in the Khvalinskoye exploration and production license with Kazakh state firm KazMunaiGaz (KMG) and Russias Lukoil. According to the terms of the heads of agreement (HOA), KMGs previous 50% interest will be reduced to 25%, Total will take 17%...