Total on Tuesday announced the sale of its "non-core" assets in Brunei, Sierra Leone and Liberia in line with its divestment strategy amid the low oil price environment.
The French energy group announced in a statement that the assets sale represent a global value of more than $400 million.
The company also said that it closed its sale to Shell of its wholly-owned subsidiary; Total E&P Deep Offshore Borneo BV in Brunei.
In Sierra Leone and Liberia, Total signed a deal to sell its marketing and services businesses to Conex Oil & Gas Holdings, a regional company that imports and distributes petroleum products in West Africa.
"These sales will contribute to Total’s ongoing divestment program and demonstrate our ability to relentlessly highgrade our portfolio," Jean-Pierre Sbraire, chief financial officer of Total, was quoted as saying in the statement.
"In the current context of low oil prices, these transactions support the action plan announced to weather the crisis."
By Sibel Morrow