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Paris - Total said Qatar Petroleum International had taken a 15% stake in Total E&P Congo through a share capital increase following a framework agreement signed in May.
"The $1.6bn increase of Total E&P Congo's capital will consolidate its financial capacity at a time when it is progressing the development of the Moho Nord deep offshore project," Total said in a statement on Friday.
The deal is part of a wider agreement signed by the two companies in March 2010 to cooperate on projects in Africa.
Total E&P Congo, present in the Republic of the Congo since 1968, is the country's leading oil producer, operating 10 of the 22 fields developed and accounting for nearly 60% of national output, according to Total.
"The $1.6bn increase of Total E&P Congo's capital will consolidate its financial capacity at a time when it is progressing the development of the Moho Nord deep offshore project," Total said in a statement on Friday.
The deal is part of a wider agreement signed by the two companies in March 2010 to cooperate on projects in Africa.
Total E&P Congo, present in the Republic of the Congo since 1968, is the country's leading oil producer, operating 10 of the 22 fields developed and accounting for nearly 60% of national output, according to Total.
