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.
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