Economy & BusinessThe Moroccan group Afriquia acquires TotalEnergies in Mauritania

The Moroccan group Afriquia acquires TotalEnergies in Mauritania


Afriquia absorbed the Mauritanian subsidiary of TotalEnergies, after the Moroccan group’s offer was accepted. The signing of the acquisition is expected “next week, for an amount of around 185 million dollars”, revealed Financial Afrik, citing a concordant source within TotalEnergies.

The employees were informed that the process “is part of the new energy policy of the country which is looking for strong partners”, according to another local source, quoted by the media. Since the signing of the agreement in principle for the acquisition, “the company in Nouakchott has started to transfer skills to Afriquia”, we add.

The handover is expected to take “several weeks”. TotalEnergies has been operating in Mauritania in the field of oil and gas exploration and production since 1999. It has forty sales outlets across the country.

The Moroccan Blog
The Moroccan Blog
The Moroccan Blog is an English based newsblog dedicated to Morocco. You can find here all news from Morocco across a variety of topics: Arts & Culture, Economy & Business, Lifestyle, Moroccan Sahara, MRE, Society, Tourism & Travel and more.

Latest news

Antony Blinken praises Morocco’s commitment to peace and security in the Middle East

The head of U.S. diplomacy, Antony Blinken had Tuesday, January 31, 2023, a telephone conversation with the Minister of...

Morocco: 10.9 million tourists in 2022

Some 10.9 million tourists visited Morocco during the year 2022, said in Rabat, the Minister of Tourism, Handicrafts and...

Air Arabia connects Fez to Weeze in Germany

This service will be effective from March 2, 2023, with prices "very competitive," announced the company in a statement. "No...

Must read

Here are the most popular tea brands for Moroccans

In Morocco, some 400 brands of tea are marketed...

Aeronautics: Swiss Pilatus chooses Morocco

Pilatus has just signed a contract with Sabca Maroc...

Apple soon at Morocco Mall

The apple brand will strengthen its presence in Morocco....

You might also likeRELATED
Recommended to you