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Total Sells its Interests in OML 138 to Sinopec

19th November, 2012

hexgear

Total announces that it has finalized an agreement to sell its 20% contractor interest in OML 138 block to a wholly owned subsidiary of China Petrochemical Corporation (Sinopec), for approximately US$2.5 billion in cash (subject to post-closing adjustments). The agreement is subject to approval by the Nigerian authorities.

The OML 138 block contains the Usan field which started production in February 2012.

Asset: OML 138 Source: http://total.com/en/media/news...

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