Total sells stake in Nigerian oil field
The company’s decision to sell their shares in the onshore Oil Mining Lease 29 to Aiteo Eastern E&P came after they made two similar divestments in Nigeria. These three transactions reached a sum of 1 billion dollars.
Total’s Chief Financial Officer Patrick de La Chevardiere commented, “These divestments will help us reduce our exposure to non-operated blocks in onshore Nigeria. Through such moves, we will focus on our core operating developments.”
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