ad. Buy Grade A Premium Uganda Vanilla Beans NOW Available for Export
TOTAL to Expand in East Africa After Project Start in Uganda
Total SA (FP), Europe’s third-largest oil company, may expand in East Africa after it started a project in Uganda, said Chief Executive Officer Christophe De Margerie.
Total and Cnooc Ltd. last month completed a $2.9 billion transaction with Tullow Oil Plc acquiring stakes in the Lake Albert Basin fields after almost a year of talks. The French company is among oil producers and utilities interested in buying a 20 percent stake in Eni SpA (ENI)’s gas discovery off Mozambique, according to people with knowledge of the matter.
“We are presently focused on Kenya and Tanzania,” de Margerie told reporters in Kuwait today. “For Mozambique, we might look at it at some point in the future. There isn’t anything final there yet.”
Royal Dutch Shell Plc and Tullow are among explorers expanding in East Africa after Statoil ASA, BG Group Plc (BG/), Eni and Anadarko Petroleum Corp. found about 70 trillion cubic feet of gas off Mozambique and Tanzania.
PTT Exploration & Production Pcl, Thailand’s only listed oil and gas company, last month trumped Shell with a $1.7 billion bid for local explorer Cove Energy Plc.
Click here to post comments
Join in and write your own page! It's easy to do. How? Simply click here to return to Africa Uganda Business Travel News .
Haven't yet found what you Want...?
If you haven't yet found what you were looking for or you need detailed information about the subject matter on this page
feel free to ask our business travel consultants.