SULAIMANI (ESTA) — France’s supermajor Total is in talks to sell its stake at an oilfield in the Kurdistan Region, Bloomberg reported on Friday.
Bloomberg cited people familiar with the matter as saying that Total SE is working with Jefferies Financial Group Inc. on the sale of its 18% stake in the Kurdistan Region’s Sarsang block.
The people added that talks were ongoing and that no final decisions had been taken, according to Bloomberg.
Sarsang exploration block is operated by HKN Energy, a subsidiary of Dallas-based Hillwood International Energy.
Total has owned its interest in the block since it purchased A.P. Moller-Maersk A/S’s oil and gas unity for $7.45 billion.
Total has been selling assets to curb debt as plunging oil and gas prices sap earnings. It completed $1.1 billion in asset sales during the first nine months of the year, Bloomberg said.
