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Total set to acquire Maersk Oil for $7.45bn

21 Aug 2017
French energy firm Total has agreed to buy Maersk Oil for $7.45billion. The transaction will give Total greater control of the Culzean field, according to officials. 

The deal is expected to make Total the second largest operator in the NW Europe offshore region, and will go through in the first quarter 2018.

Total chief executive Patrick Pouyanne said: “This transaction delivers an exceptional opportunity for Total to acquire, via an equity transaction, a company with high quality assets which are an excellent fit with many of Total’s core regions.

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