8 July 2016

Rep. of Congo Seeking Buyers for 3 Total Offshore Permits: AFP

Republic of the Congo govt seeking cos. to take 3 offshore oil-production licenses that Total wants to give up, Agence France-Presse reported, citing govt spokesman Thierry Moungalla.

* Total has 39% stake in Tchibouela, Tchendo, Tchibeli-Litanzi projects, alongside Eni and local cos.;
* Total cites reduced profitability, need to finance Moho Nord offshore project in Republic of the Congo: AFP. Source: Bloomberg