Qatar buys stake in Total’s Congo operations

  • Share via facebook
  • Tweet this
  • Bookmark and Share

State-owned Qatar Petroleum International (QPI) has agreed to buy a stake in oil giant Total’s operations in the Democratic Republic of the Congo.

QPI, the foreign investment unit of Qatar Petroleum, said that it would take part in a 15 percent share capital rise of Total E&P Congo. The investment, Qatar Petroleum’s first in an overseas oil field, will specifically focus on the Moho North project.

Neither QPI nor Total specified how much the deal was worth.

QPI’s other foreign investments include April’s deal for it alongside the UK’s Centrica to jointly acquire Suncor Energy’s gas business in Canada for $987m.

In the same month QPI signed a memorandum of understanding with Exxon Mobil Corporation to assess jointly unconventional gas resources in North America and global opportunities in liquefied natural gas.

QPI also announced earlier this week that it along with sovereign wealth fund Qatar Holding and Qatar Electricity and Water Company would establish a new overseas fund to invest in energy infrastructure.

The fund will invest “in the fields of power generation, water desalination and treatment, heating and cooling systems, provision of fuel as well as fuel loading and unloading equipment", all three said in a joint statement to the local bourse.

Related:
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

Posted by: Qatari

Qatar's international investments are well diversified, thanks to our great leadership.

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Back in business

Back in business

Iran’s tankers are back on the oceans as sanctions on the Islamic...

A new future for Saudi Arabia?

A new future for Saudi Arabia?

The vast Wadd Al Shimal phosphate mine in the north of Saudi...

Will shale shake the Middle East?

Will shale shake the Middle East?

The debate over shale’s impact on the GCC continues. Will this...

Most Discussed
  • 54
    Three UAE women attacked with hammer at London hotel

    I really feel that Arabian Business.Com should now close this comments page. This should be all about sympathy for the families not what it is/has turned... more

    Wednesday, 16 April 2014 1:06 PM - Adrienne
  • 51
    Why Dubai isn't a plastic city

    What is definitely not a plastic city. The Arabs have a culture dating back to several centuries. 50 years back Dubai was just a fishing village. Today... more

    Tuesday, 8 April 2014 3:49 PM - P. MADHUSUDAN
  • 48
    DMCC boss Ahmed Bin Sulayem entertains Robert Mugabe in Dubai

    @fga ''However today, simply because he decided to dispossess a few white farmers of their land and redistribute to the poorer indigenous blacks'' more

    Sunday, 13 April 2014 3:02 PM - Matt Williams