Total SA has agreed to buy all the shares of Chevron Denmark Inc from Chevron Corporation.
Chevron Denmark holds a 12 percent interest in the Danish Underground Consortium (DUC) and a 7.5 percent interest in the Tyra West pipeline.
This acquisition will increase Total’s operated share of DUC from 31.2 percent to 43.2 percent, the other partners of the consortium are Shell (36.8 percent) and Nordsofonden (20 percent, owned by the Danish State).
The consortium, which started production in 1972, currently operates 15 fields, all located in the Central Graben sector of the North Sea. It covers nearly 90 percent of the Danish oil and gas production. In 2017 the production averaged 182,000 barrels of oil equivalent per day (boe/d).
Read more: Total to buy shares of Chevron Denmark
Total SA has agreed to buy all the shares of Chevron Denmark Inc from Chevron Corporation.
Chevron Denmark holds a 12 percent interest in the Danish Underground Consortium (DUC) and a 7.5 percent interest in the Tyra West pipeline.
This acquisition will increase Total’s operated share of DUC from 31.2 percent to 43.2 percent, the other partners of the consortium are Shell (36.8 percent) and Nordsofonden (20 percent, owned by the Danish State).
The consortium, which started production in 1972, currently operates 15 fields, all located in the Central Graben sector of the North Sea. It covers nearly 90 percent of the Danish oil and gas production. In 2017 the production averaged 182,000 barrels of oil equivalent per day (boe/d).
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