Total acquires Maersk Oil in $7.45 billion deal

PARIS, FRANCE: Total SA announced that it is acquiring 100 percent shares of Maersk Oil & Gas A/S (Maersk Oil), a wholly owned subsidiary of A P Moller – Maersk A/S, for $7.45 billion.

The transaction is expected to close in first quarter 2018.

Under the terms of the deal, A P Moller Maersk will get $4.95 billion in Total shares and Total will assume $2.5 billion of Maersk Oil's debt.

The combination with Maersk Oil offers Total an exceptional overlap of upstream businesses globally which will enhance Total’s competitiveness and value in many core areas, in particular through some high quality growing assets and through the delivery of synergies.

Key themes of transaction

Acquisition transforms Total’s North-West Europe outlook

• This transaction will make Total the second-largest operator in the NW Europe offshore region which is the 7th largest oil and gas producing region globally.

• Strengthens Total’s existing the North Sea offshore producing business in UK and Norway. The addition of Maersk Oil’s world class assets, including the operated UK gas field Culzean (49.99 percent working interest), close to the Elgin-Franklin hub operated by Total, and its stake in the giant Johan Sverdrup oil development (8.44 percent Working Interest) in Norway will bolster Total’s production profile in these countries.

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