Total, Qatar Petroleum form joint venture in Congo

Total, Qatar Petroleum form joint venture in Congo

11:16 AM, 23rd May 2013
Total, Qatar Petroleum form joint venture in Congo

PARIS, FRANCE: Qatar Petroleum International (QPI) and Total signed a framework of agreement whereby QPI will participate in Total E&P Congo through its subscription to a 15 per cent share capital increase of this company. This participation reinforces Qatar’s commitment to invest in Africa and illustrates Congo’s willingness to welcome Qatar as a new partner. Furthermore, QPI will contribute to the company’s significant investment programme in Congo, specifically the Moho North project.

Christophe de Margerie, Chairman and CEO, Total, expressed his satisfaction with this agreement which is a new step in the implementation of the memorandum of understanding for a strategic cooperation in Africa entered between QPI and Total on 25 March 2010. It will further build-on the well-established partnership with QPI and will strengthen Total’s commitment to proceed with the development of the Congolese Petroleum Industry.

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