Paris - French oil giant Total said Monday that it has sold its stake in a Nigerian oil field to a local company for $569m.
Total's sale of its share in the onshore Oil Mining Lease 29 to Aiteo Eastern E&P comes after the French group made two similar divestments in Nigeria. The three transactions reached a sum of $1bn.
"These transactions ... reduce our exposure to non-operated blocks onshore Nigeria, and allow us to focus on our core, operated developments," said Patrick de La Chevardiere, Total's chief financial officer.