Total Gains $750M From Sale Of Angola Offshore Oil Stake

Law360, New York (February 4, 2014, 2:48 PM EST) -- French oil giant Total SA said Tuesday that it's selling its stake in an offshore oil and gas block in Angola to state-owned Sonangol EP for $750 million, as part of its effort to focus on core assets it has larger stakes in.

Total said it will sell its 15 percent interest in Block 15/06, located about 350 kilometers off the Angolan coast. The block covers approximately 3,000 square kilometers and is located in water depths ranging from 220 to 1,700 meters, the company said....
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