Locations
The deal positions KMG as the leading participant in a significant producing oil and gas field in western Kazakhstan.
European law firm Fieldfisher has advised longstanding client JSC NC "KazMunayGas" (KMG) on its acquisition of 100% of the shares of Total E&P Dunga GmbH and ownership rights in the Dunga subsoil use project, respectively, from TotalEnergies EP Danmark A/S (a subsidiary of French oil and gas major, TotalEnergies).
Together, these acquisitions account for a 60% interest in Kazakhstan's Dunga oil and gas field.
The Dunga field is located in the Tupkaragan District of the Mangistau Region of western Kazakhstan.
It was discovered in 1966 and produces around 7,400 barrels of oil equivalent per day. Its geological reserves consist of 106 million tons of oil and more than six billion cubic metres of gas.
The Dunga project is implemented under a production sharing agreement (PSA).
Pursuant to KMG's acquisition, KMG now owns a 60% share of the PSA, along with Oman Oil Company Limited (20%) and PTT Exploration and Production (20%).
KMG is the leading vertically integrated oil and gas company in Kazakhstan. It manages assets across the entire production cycle from exploration and production of hydrocarbons to transportation, refining and the provision of specialised services.
The company, founded in 2002, represents the interests of Kazakhstan in the country's oil and gas sector and has also been making significant investments in sustainability at its production and refining facilities.
Fieldfisher, working closely with local legal counsel, advised KMG on English, German and Kazakh law aspects of the deal.
The Fieldfisher team advising KMG was led by Corporate Partner Nodir Sidikov and Corporate Director Tamara Vasiljeva, assisted by Senior Associate Galina Rivkina, Solicitor Kuanysh Sarsenbayev, Lawyer Kateryna Ustinova, Trainee Solicitor Valeriya Shleina, Senior Paralegals Julia Safitova and Alisher Satimov, all from the firm's Corporate CIS team.
On German law aspects of the deal, the team worked closely with Corporate Partner Sven Labudda and Senior Associate Jonas Klima from the Fieldfisher Hamburg office.
Commenting on the completion of the deal, Corporate Partner Nodir Sidikov said:
"We are pleased to have advised KMG on another major deal for its business in Kazakhstan.
"As well as being the largest national oil and gas producer in Kazakhstan, it is one of the most significant suppliers of energy in the CIS region with important supply links to Europe.
"Congratulations to KMG on completing this transaction."