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Total to sell stake in South African gas block to Qatar

Published 02/05/2018, 07:45 AM
© Reuters.  Total to sell stake in South African gas block to Qatar
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  • Total (NYSE:TOT) agrees to sell a 25% interest in an exploration block offshore South Africa to Qatar Petroleum for an unspecified sum.
  • TOT is considered a front-runner to pick up more liquefied natural gas business in Qatar, and opening an opportunity for QP to join its global operations likely would strengthen the French company’s position.
  • Following the deal, TOT remains the operator of the block and owns a 45% stake.
  • TOT also agrees to acquire stakes in some oil production blocks offshore Guyana, increasing its presence in the potentially lucrative Guyana basin.
  • Now read: Total S.A. Announced Major Deepwater Discoveries In The Gulf Of Mexico


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