July 31, 2018 / 6:20 AM / 19 days ago

Oil group Total Gabon sells stake in Rabi-Kounga field

PARIS (Reuters) - Oil company Total Gabon (EGAB.PA) has sold its 32.9 percent stake in the Rabi-Kounga field located in the southern onshore region of Gabon, in a deal valued at around $100 million.

The company, which is majority-owned by French oil major Total (TOTF.PA), said it was selling the stake to Assala Upstream Gabon S.A., and that the disposal formed part of its plans to simplify its portfolio.

Earlier this month, the Gabon oil workers’ union ended a strike at facilities run by Total in the country.

Reporting by Sudip Kar-Gupta; editing by Richard Pullin

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