Total has signed an MOU (Memorandum of Understanding) with Angola’s Sonangol.
The move is seen as one of the first steps towards opening fuel stations in the region.
Angola is Africa’s second biggest oil exporter and has been planning for a couple of months to reorganise it soil sector.
Total is currently the largest foreign oil company producing in Angola, and the MOU was signed by chief executive Patrick Pouyanne earlier this week.
It is hoped it will pave the way to a network of Total-branded stations in Angola.
A spokesman said:”In a first phase, products would be obtained through Sonangol”.
Sonangol has a refinery in Luanda which produces 56,000 barrels per day.
In a separate statement, the company said an agreement could represent an investment of hundreds of millions of dollars, with benefits to be both in the current and long term.
More detail is expected to be announced with a shareholder deal between the two has been signed.
Angola’s finances have been suffering as a result of a continued decline in the oil price since last year.
The country’s oil output represents 40% of its gross output.
According to reports, Sonangol has been under pressure to show how it is boosting its downstream potential in Angola.
Although a major producer of crude, it does not refine enough to meet its own fuel demand.
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