Total is to sell its 75.8% equity in its upstream affiliate Total E&P Cameroon to Perenco.
At present, production from the mature fields operated by Total in Cameroon reaches 40,000 barrels a day (bpd), which represents an equity production of 8,000bpd, or 0.3% of the group’s total production.
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Total E&P Cameroon is also held by Société Nationale des Hydrocarbures (SNH) for 20% and Paris Orléans – Groupe Rotchshild holding a 4.2% share.
Total senior vice-president for Africa, exploration and production Jacques Marraud des Grottes said that the firm intends to remain an actor of the Cameroonian oil industry, and will maintain its refining activities and distribution network of oil products in the country.
