Total: divests block offsshore Brunei
(CercleFinance.com) - Total announces that it has signed an agreement with Shell to sell its fully-owned subsidiary Total E&P Deep Offshore Borneo BV, which owns 86.
95% of the CA1 block located 100 km away and with a total area of 5,850 km² offshore from Brunei.
The transaction amounts to 300 million and is subject to approval by the competent authorities, with it set to be finalized by the end of 2019.
This transaction is part of Total's program to divest non-core assets of five billion dollars over 2019-2020, said Arnaud Breuillac, head of exploration-production at Total.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
95% of the CA1 block located 100 km away and with a total area of 5,850 km² offshore from Brunei.
The transaction amounts to 300 million and is subject to approval by the competent authorities, with it set to be finalized by the end of 2019.
This transaction is part of Total's program to divest non-core assets of five billion dollars over 2019-2020, said Arnaud Breuillac, head of exploration-production at Total.
Copyright (c) 2019 CercleFinance.com. All rights reserved.