Total Energies sells its assets in Burkina Faso

French oil group Total Energies announced on Tuesday the sale of its assets in Burkina Faso, a few weeks after a similar operation in Mali, reports said.

Total Energies announced on Tuesday, February 18, the sale of its assets in Burkina Faso to Coris Investment Group, a company headed by Burkinabe businessman Idrissa Nassa.

This announcement follows the sale in January of its activities in Mali to Coly Energy Mali, in partnership with Benin Petro SA, reports added.

The information about the sale to Burkina Faso was communicated by Badara Mbacké, Total’s business development manager for West Africa, during a meeting with Serge Gnaniodem Poda, Burkina Faso’s Minister of Industry, Trade and Handicrafts, reports said.

“We came to inform the authorities of the evolution of our portfolio in Africa and the conclusion of an agreement with a major player in Burkina Faso, Coris Investment Group, for the takeover of our assets in the country,” said Mbacké after the audience.

For the sale in Mali, the agreement had been formalized at a meeting between a Coly Energy delegation, led by René Hounsinou, and Mali’s Prime Minister, General Abdoulaye Maïga.

According to reports, this transaction maintained the company’s 1,109 employees.