Mubasher: The French oil company Total announced on Monday that it has agreed to sell the remaining of its stake in the Norwegian oil field Gina Krog to Kuwait Foreign Petroleum Exploration Company (KUFPEC).

As reported by Kuwait News Agency (KUNA), Total said in a statement that the contract stipulates selling 15% of the field, noting that the move is part of the approach for capital optimization, following acquisition of the Danish oil company Maersk.

The company revealed in August readiness to buy Maersk for $7.45 billion to become the second operator in the North Sea.