Total Approves $10B Oil Project Off Congo Coast

Law360, New York (March 25, 2013, 3:34 PM EDT) -- Energy giant Total SA on Friday approved $10 billion in plans to develop an oil field off the coast of the Republic of the Congo it expects to eventually churn out 140,000 barrels of oil equivalent a day, cementing its place as the central African nation's top oil producer.

The Moho Nord project, co-owned by Congo's state-owned oil company SNPC and a Chevron Corp. unit, builds on an earlier Congolese oil effort that went on stream five years ago. Total SA expects the new develpment to...
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