A Total executive said:
The transaction is aligned with Total’s active portfolio management. Usan accounts for less than 10% of the Group’s equity production in Nigeria. This sale of an asset operated from a minority position will allow us to focus our resources on the material growth opportunities in Total’s portfolio.
Total’s production in Nigeria amounted to 287,000 barrels a day in 2011. The company holds many other assets in Nigeria, both onshore and offshore, and has had a presence in the country for 50 years.
Paul Ausick
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