ANGOLA ALGERIA CAMEROON CHAD. CONGO EGYPT.. EQUATORIAL GUINEA GABON LIBYA. NIGERIA SOUTH AFRICA SUDAN TUNISIA OTHERS
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ANGOLA ALGERIA CAMEROON CHAD. CONGO EGYPT.. EQUATORIAL GUINEA GABON LIBYA. NIGERIA SOUTH AFRICA SUDAN TUNISIA OTHERS |
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Marathon Oil Sold its Stake in Sudan To Total SA 04-25-2008 Marathon Oil Corp. said it has finally exited its stake in a southern Sudanese block and sold it to the French Giant, Total SA. "Marathon sold its interest in Southern Sudan to Total," a spokesman for Marathon said in an email. Marathon didn't provide any value for the transaction. A Total spokesman couldn't immediately comment. Marathon was unable to keep its 32.5% stake in the 118,000-square-kilometer Block B because Sudan is under U.S. sanctions. The country holds one of Africa's largest proved oil reserves. The divestment of the Marathon stake is one of the conditions set by Total in order for it to reenter the block, which it had to abandon following a civil war in southern Sudan.
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