TotalFinaElf's expertise in developing challenging fields has paved the way for the Group's establishment in this region, recently opened to foreign oil companies. Working in cooperation with local and international partners, TotalFinaElf is leveraging its experience and preparing to access new oil and gas resources.
In Kazakhstan, the OKIOC consortium (TotalFinaElf 14.28%) made a major hydrocarbon discovery with the Kashagan East 1 exploration well in the northwestern part of the Caspian Sea - the first discovery to date on Kazakhstan's continental shelf.
A second exploration well, Kashagan West 1, was started in October 2000, with results expected in the spring of 2001. In early 2001, TotalFinaElf signed an agreement with BP and Statoil to purchase their interests in this field, which will be shared with partners wishing to exercise their right of first refusal.
In Azerbaijan, the campaign conducted in 2000 to appraise the 1999 Shah Deniz discovery (TotalFinaElf 10%, BP operator) has confirmed the significant size of this field. Exploration wells on Lenkoran Talish (TotalFinaElf operator) and on Apsheron (Chevron operator) were spudded in the last quarter of 2000. After the TotalFinaElf merger, the Group rationalized its acreage in Azerbaijan by selling 20% of its interest in Lenkoran Talish to Wintershall. TotalFinaElf now has a 35% in this permit.
In Russia, it was decided to move into the second phase of planned development for the Kharyaga field (TotalFinaElf operator with 50%), aimed at raising production to 30,000 b/d in 2002.
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