Qatar Petroleum To Buy Into Total’s Congo Exploration

Qatar Petroleum International (QPI) has signed a framework agreement with France’s Total to participate in Total E&P Congo through a 15 per cent share capital increase, the two energy companies said on Wednesday.

QPI will contribute specifically to the French company’s 100,000 barrel of oil equivalent per day Moho North oil project in the Republic of the Congo, the companies said in a statement.

The deal is part of a wider agreement signed by the two companies in March 2010 to cooperate on projects in Africa.