Total S.A. Brunei: Total Sells Its Interest in Offshore Block CA1
30 Ottobre 2019 - 12:04PM
UK Regulatory
TIDMTTA
Total (Paris:FP) (LSE:TTA) (NYSE:TOT) has signed an agreement to
sell wholly owned subsidiary Total E&P Deep Offshore Borneo BV
- which holds an 86.95% interest in Block CA1, located 100
kilometers off the coast of Brunei - to Shell1 for $300 million.
The transaction is subject to approval by the competent authorities
and is expected to close by December 2019.
"This transaction fits with our strategy of actively managing
our portfolio and will contribute to our program to dispose of $5
billion of non-core assets over the period 2019-2020," said Arnaud
Breuillac, President Exploration & Production at Total.
Block CA1 covers 5,850 square kilometers, with water depths
ranging from 1,000 to 2,500 meters. Total currently operates the
block alongside partners Murphy Oil (8.05%) and Petronas (5%).
* * * * *
About Total
Total is a major energy player that produces and markets fuels,
natural gas and low-carbon electricity. Our 100,000 employees are
committed to better energy that is safer, more affordable, cleaner
and accessible to as many people as possible. Active in more than
130 countries, our ambition is to become the responsible energy
major.
Cautionary note
This press release, from which no legal consequences may be
drawn, is for information purposes only. The entities in which
TOTAL S.A. directly or indirectly owns investments are separate
legal entities. TOTAL S.A. has no liability for their acts or
omissions. In this document, the terms "Total", "Total Group" and
Group are sometimes used for convenience. Likewise, the words "we",
"us" and "our" may also be used to refer to subsidiaries in general
or to those who work for them.
This document may contain forward-looking information and
statements that are based on a number of economic data and
assumptions made in a given economic, competitive and regulatory
environment. They may prove to be inaccurate in the future and are
subject to a number of risk factors. Neither TOTAL S.A. nor any of
its subsidiaries assumes any obligation to update publicly any
forward-looking information or statement, objectives or trends
contained in this document whether as a result of new information,
future events or otherwise.
1 Dordtsche Petroleum Maatschappij BV
Total ContactsMedia Relations: +33 1 47 44 46 99 l
presse@total.com l @TotalPressInvestor Relations: +44 (0)207 719
7962 l ir@total.com
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(END) Dow Jones Newswires
October 30, 2019 07:04 ET (11:04 GMT)
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