The French oil giant Total has recently said that the company is planning to divest mature exploration-production activities in Cameroon.

According to the announcement made by the company, it would account for close to 0.3 percent of the total production of the company to the independent French group Perenco for an undisclosed amount.

It is to be mentioned here that the deal had its own share of concerns in the form of the oil fields that are present at a mature stage of development or nearing the end of their lives. It may be noted here that such fields produce close to 40,000 barrels of oil per day and representing 8,000 barrels per day in terms of the oil accruing to Total.

Perenco as a name in the industry is known for managing oil fields of such nature and helps in nearing the end of their lives.

Jacques Marraud des Grottes, a company spokesperson said that the company intends to remain an actor of the Cameroonian oil industry and will maintain its refining activities and as well as the distribution network of the company.

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