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Further to the signing of a framework agreement in early May, Total is pleased to announce that QPI is now a shareholder of Total E&P Congo, holding 15% of its capital.
Christophe de Margerie, Chairman and CEO of Total, said "The conclusion of this agreement, which is an important milestone, builds on Total’s already well-established partnership with Qatar and at the same time strengthens our commitment to the development of the Congolese petroleum industry."
This transaction, whilst demonstrating the quality of Total E&P Congo’s assets and the expertise within its organization, is also in line with the Group’s strategy of active portfolio management.
The 1.6 billion dollar increase of Total E&P Congo’s capital will consolidate its financial capacity at a time when it is progressing the development of the Moho Nord deep offshore project.