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Total Prepares Sale of $1.5 billion of UK North Sea Fields

Source: Reuters 7/9/2018, Location: Europe

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Total is set to sell a third of its stake in the vLaggan Tormore gas field along with other oil and gas assets in the UK North Sea that could fetch a total of $1.5 billion, four banking and industry sources said, according to Reuters.

The divestment will include stakes in a number of smaller fields Total acquired as part of the 2017 $4.95 billion deal to buy the oil and gas division of Moller-Maersk, the sources said. The deal was completed in March.

Those fields include Golden Eagle, in which Total has a 32 percent stake, as well as Dumbarton (30 percent), Bruce (43 percent) and Keith (25 percent).

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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