Qatar Petroleum holds 15% share in Total E&P Congo

Total SA

Total SA reports that, following the signing of a framework agreement in early May, Qatar Petroleum International is now a shareholder of Total E&P Congo, holding 15% of its capital.

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 deepwater offshore project in Congo.

Total E&P Congo has launched the development of the Moho Nord field, consisting of the Moho-Bilondo Phase 1bis and Moho Nord projects, on the Moho-Bilondo license which it operates. First oil is expected in 2015, with output reaching 140,000 boepd in 2017.

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