|
| |
Total to Cede 20% of Taoudenni Permits in Mauritania to QPI
04-09-2008
Total has sold a 20% stake in the
Taoudenni Ta7 and Ta8 permits in Mauritania to Qatar Petroleum International.
Total is the operator, with a 60% stake now. The blocks represent a total
surface of 58,000 square kilometres. The assignment agreement was signed
yesterday by his Excellency Abdullah Al Attiyah, Deputy Premier of the State of
Qatar and Chairman of Qatar Petroleum International, and Christophe de Margerie,
Chief Executive Officer of Total. Nasser Jaidah, Chief Executive Officer of
Qatar Petroleum International, and Yves Louis Darricarrère, President of Total
Exploration and Production, were also present at the moment of signature.
This transaction is subject to approval by the Mauritanian Ministry of Oil and
Mines.
Following on from the recent entry of Sonatrach into these blocks with a 20%
stake, Total is showing, by ceding a second 20% stake to Qatar Petroleum
International, that it is committed to establishing strategic partnerships with
national oil companies both inside and outside of their respective countries.
Total has been active in Qatar since 1936 when the Emirate’s oil industry began
and has helped develop the local oil industry from the outset via investment,
state-of-the-art technology and long term partnerships which have broadened out
from oil exploration to encompass refining, gas and petrochemicals through
large-scale projects in Qatar and now internationally.
Total holds interests in the Al Khalij field, the North field, the Dolphin
project, the Qatargas I liquefaction plant and the second train of Qatargas II
in the construction phase. The Group’s production in Qatar (including its share
in the production of equity affiliates) averaged 74,000 barrels of oil
equivalent per day in 2007. This production is expected to increase
significantly with the ramp-up of Dolphin. Total has also developed its
activities in Petrochemicals, mainly on projects based on ethane feedstock with
Qapco, Qatofin and QVC.
|
