Total, Qatar sign agreement to develop oil in Africa

09:42, March 26, 2010      

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French energy giant Total announced Thursday that it has signed an agreement with Qatar to jointly develop oil production in west Africa.

The agreement established a partnership between the French company and the Middle East country on energy investment in Africa, Total Chief Executive Christophe de Margerie said at a forum.

This was the first time Total cooperated with a Middle East country to invest aboard, Margerie said, but didn't detail any specific project on agenda.

He said Qatar aims to diversify its oil industry by this cooperation and the agreement was based on their long relationship.

The French leading oil producer has operations in most African oil-producer countries and business in Qatar takes 8 percent of its annual production on average, local media quoted a Total spokesman as saying.

Source: Xinhua
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