From iOL

French oil company Total said Qatar Petroleum International had taken a 15 percent stake in Total E&P Congo through a share capital increase following a framework agreement signed in May.

“The $1.6 billion increase of Total E&P Congo’s capital will consolidate its financial capacity at a time when it is progressing the development of the Moho Nord deep offshore project,” Total said in a statement.

The deal is part of a wider agreement signed by the two companies in March 2010 to cooperate on projects in Africa.

Read more at iOL