Total, France's largest oil company, has sold its 20 per cent stake in an offshore Nigerian field to China Petrochemical Corp (Sinopec) for about US$2.5 billion as part of an asset-disposal programme.
The OML 138 block includes the Usan field, which started output in February, Total said yesterday. The asset accounts for about 10 per cent of Total's Nigerian production, which averaged 287,000 barrels a day last year.
via Business feed http://www.scmp.com/business/companies/article/1086403/sinopec-buys-nigerian-oil-stake-us25-billion
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