Total Sells Colombian Oil Assets to Sinochem

French oil firm Total has sold off its Colombian affiliate TEPMA to China’s Sinochem, marking one of three such sales that in total were valued at $1bn . Total’s TEPMA holds a stake in the 7,000-barrels-of-oil-equivalent a day Cusiana field as well as the OAM and ODC pipelines, Total says. The deal comes after the company sold a 5% stake in the Ocensa pipeline to Petrominerales and another 5% to Cepsa. Officials at Total declined to offer additional details about all three transactions and did not say if any advisors were involved. Sinochem officials could not immediately be reached for comment. Total has said the sale falls in line with its recent approach to selling off pipelines in other locations. Despite the asset sale in Colombia, however, Total expects to continue its exploration activities and ownership stakes in the Nicosta (50%) and Mundo Nuevo (55%) blocks.