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Total sells $539m Nigerian oilfield stake

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LONDON (ShareCast) - French oil major Total (Swiss: FP.SW - news) has sold its stake in an onshore oilfield in Nigeria for $569 million, the company confirmed on Monday. Giving details, a spokesperson said the company had divested its holdings in OML 29 exploration block to Nigerian explorer Aiteo Eastern E&P.

The move is part of an ongoing asset sale programme initiated by the company last year. The latest sale brings Total's divestment in Nigeria to over $1 billion.