Reuters logo
Oil major Total starts up production at Congo's Moho Nord site
March 15, 2017 / 7:18 AM / 9 months ago

Oil major Total starts up production at Congo's Moho Nord site

PARIS (Reuters) - French oil major Total (TOTF.PA) has started up production from the Moho Nord site off the coast of the Republic of Congo, with the facility set to have a production capacity of 100,000 barrels of oil equivalent per day.

A customer holds a gas pump as he fills-up his car in a Total station in Nice, France, February 9, 2017. REUTERS/Eric Gaillard

“Moho Nord is the biggest oil development to date in the Republic of the Congo,” Arnaud Breuillac, president of exploration and production at Total, said in a statement on Wednesday.

“Moho Nord will contribute to the reinforcement of the cash flow of the group and to its production growth,” he added.

Total has a 53 percent stake in the site. Chevron Overseas (Congo) Ltd has a 31.5 percent stake while Societe Nationale des Petroles du Congo owns a 15 percent stake.

Last month, Total reported some of the biggest profits for 2016 in the oil industry and raised its dividend.

Reporting by Sudip Kar-Gupta; Editing by Matthias Blamont

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below