Total CEO confirms talks to sell assets in Nigeria

Sun Nov 11, 2012 7:24am EST
 

ABU DHABI (Reuters) - French oil major Total (TOTF.PA: Quote) is in talks to sell some assets in Nigeria, the company's chief executive said on Sunday, but it is not pulling out of the country.

"Yes we are discussing with certain buyers about selling certain assets in Nigeria," Christophe de Margerie said.

"But it doesn't mean we are scared and intend to start some kind of walking out of Nigeria...Total is happy to develop its projects in Nigeria."

China's Sinopec is reportedly close to buying stakes in Nigerian onshore oil blocks from Total. De Margerie said that while he could not comment on whether there were such talks, he would not deny the report.

(Reporting by Daniel Fineren; Editing by Andrew Torchia)

 
The logo of French oil company Total is seen during the company's 2011 annual result presentation in Paris February 10, 2012. REUTERS/Jacky Naegelen