Total says it will divest mature oil fields in Cameroon

10th November 2010, Comments 0 comments

French oil giant Total said on Wednesday that it would divest mature exploration-production activities in Cameroon, accounting for about 0.3 percent of the firm's prodeuction, to independent French group Perenco for an undisclosed amount.

The deal concerns oil fields which are at a mature stage of development or nearing the end of their lives, producing about 40,000 barrels of oil per day and representing 8,000 barrels per day in terms of the oil accruing to Total.

Perenco specialises in managing oil fields nearing the end of their lives.

© 2010 AFP

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