Qatar, Total to invest jointly in energy sector in Africa

30-Mar-10

Total and Qatar have reached an agreement for joint investment in energy projects in Africa. The Memorandum of Understanding is said to cover the whole spectrum of the energy sector. No financial details of the agreement have been disclosed and the JV is also unspecified about the projects to pursue in Africa. Total said the agreement was for projects in Western Africa, Sada said the MOU covered the whole continent. Being rich in natural resources, Africa is a very promising continent and the JV aims to seek opportunities for upstream production of oil and gas or in the downstream sector like refineries or petrochemicals. Qatar partners with Total in an exploration project in Mauritania and is exploring petrochemical projects in Algeria, to be followed by a deal in Congo.