French oil group Total sells some Gabon assets to Perenco

Industry:    2020-07-31

French oil group Total said its 58%-owned affiliate Total Gabon had agreed to sell its stakes in seven oil fields off the coast of Gabon, as well as stakes in the Cap Lopez oil terminal, to rival Perenco.

Total added on Thursday that Perenco will pay between $290 million and $350 million for those assets, depending on future Brent prices. It said it remained committed to Gabon.

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