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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| TotalEnergies SE | BIT:TOT | Italy | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.00 | - |
From Jul 2019 to Jul 2024
France's Total SA (TOT) has agreed to buy a 49% stake in a unit of Russian gas producer OAO Novatek (NVTK.RS) to jointly develop a gas field on Russia's northern Yamal peninsula, Novatek said in a statement Wednesday.
Earlier Wednesday, the two companies agreed to jointly develop the Termo-Karstovoye field located in Yamal.
Total will buy a stake in Terneftegas LLC, a wholly-owned subsidiary of Novatek, which holds the license for the Termo-Karstovoye field, Novatek said without giving details about the price.
Under the deal, the two companies have two years to complete exploration works and prepare a field development plan. A final investment decision will be taken in 2011.
The field holds reserves of 47.3 billion cubic meters of gas and 10.3 million tons of gas condensate under Russian ABC1+C2 classification.
Company Web site: www.novatek.ru
-By Jacob Gronholt-Pedersen, Dow Jones Newswires; +7 495 937 8445; jacob.pedersen@dowjones.com
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