Total SA has agreed to buy the oil and gas unit of A.P. Moller-Maersk A/S for $4.95 billion, another sign that the pace of deals in the energy sector is accelerating after a long downturn.
The Maersk assets will boost the French giant's business in the North Sea, adding to deals earlier this year that expanded its presence in Uganda and Brazil.
Maersk Oil will be sold to French competitor Total in a deal which values the oil company at Dollars 7.45 billion, states Maersk Group in a press release. The deal is subject to regulatory approval from relevant authorities including the Danish energy minister and competition authorities as well as required consultation and notification processes with Total's employee representatives.
Pouyanne also added that Maersk Oil will "create a leading worldwide operator in the North West European offshore region, making Denmark a regional anchor point for Total's North Sea business". Today, the company said in its presentation about the deal with Total that "it has been seeking sustainable structural solutions for its energy-related businesses that will enable it to separate them from the group" and that this is a "major first step in this separation agenda". The latter's parent, AP Moller-Maersk will receive $4.95bn in the form of Total shares, representing a 3.75% stake in the French major, and Total will also assume $2.5bn of Maersk Oil's debt.
Consultancy Wood Mackenzie (Woodmac) said the transaction was the biggest North Sea-weighted deal since Statoil merged with Norsk Hydro in 2006.
In addition, the acquisition allows Total to gain a stronger position in the U.S. Gulf of Mexico, where the two now jointly develop hydrocarbons in the Wilcox Formation, and strengthen its position in Algeria. As part of the deal, which is expected to be completed in the first three months of 2018, the France-based company will also take over all decommissioning obligations now amounting to $2.9bn.
Clouds increasing on day of solar eclipse
The partial eclipse in our area will begin around 1:15 p.m. reaching its peak around 2:35 p.m. and wrapping up around 3:50 p.m. Tonight there is a 20 percent chance of showers and thunderstorms after midnight, and the low will be around 77.
Release Date For Yakuza 6 Revealed
Yakuza 6: The Song of Life has been available for PS4 in Japan since December 2016 and it's been a while coming. Yakuza fans are getting a special treat ahead of Yakuza Kiwami's debut at the end of the month.
Tropical depression forms in the Atlantic
These 3 disturbances are given numbers for computer tracking purposes, and are then called invests (short for investigations). The hurricane center said it was looking a bit more organized on Thursday morning.
FILE - In this October 23, 2013, file photo of A.P. Moller-Maersk's oil rig in the North Sea named Halfdan.
"In the U.K.in particular, we have two operations of similar size". The deal is expected to close in the first quarter of 2018 and take effect on July 1, Total said.
As a outcome of the transaction Maersk Oil will be classified as held-for-sale and discontinued operations in the Interim Report Q3 2017 for APMM.
It added the financial guidance for 2017 remains unchanged except for the effect of the reclassification of Maersk Oil.
"It will further shift Total's weighting towards OECD regions, a core strategic driver for the company as it looks to balance the portfolio away from areas of high above ground risk", said a WoodMac director Valentina Kretzschmar.
Maersk is now developing the Culzean gas field which is expected to start production in 2019 and which could supply up to 5 percent of Britain's gas demand.
Once the bullet slugs are removed from the body, it will be determined who shot the suspect. "It just hurts", Abdalla said. Police in the courthouse quickly came to the judge's rescue, including a probation officer who also shot at the suspect.
The Copenhagen police now working with the authorities in Stockholm to continue research in the territorial waters of the country. The BBC News wrote that the Nautilus was raised but Wall was not found and investigation into her disappearance continued.
The Railways is conducting an inquiry into the derailment which occurred in Muzaffarnagar's Khatauli yesterday. Rescue team at the train derailment site in UP. "Will not allow laxity in operations by the (Railway) Board".
The July unemployment rate for the Richmond region and other metro areas in the state is scheduled to be released August 30. There were 1,328,119 Arkansans employed last month, an increase of 9,058 since June and up 39,229 since July past year .
The current transfer window closes on August 31, more than two weeks after the start of the domestic league season. The majority of clubs are in favour but maybe all of us have to be for it to go through.
However, hopefully we will get a better look at the number of developers planning to support this new console. The company has already confirmed that Xbox One X pre-order information will be revealed during this event.
Lottery officials said if you match all five numbers and the Powerball , you should immediately sign the back of your ticket. According to the Powerball website , the one-time cash payout on Thursday for the jackpot now would be $324.2 million.
Marco: "There's the brutal, bloody fight scenes of Daredevil , but also the Wu-Tang needle drops of Luke Cage ". The final trailer of Netflix's hero team-up show " The Defenders " shows that the war for NY is about to begin.
The Chinese smartphone manufacturer has sent out media invites for the launch event on October 16 to be held in Munich, Germany. That being said, the Huawei Mate 10 could also ship with Android 8.0 O on board with Huawei's latest EMUI skin on top.
Beginning Wednesday there will be an eight-day suspension of non-immigrant visas from the embassy and its three consulates. The wait time for visa appointments at the embassy in Moscow rose from 50 days to 70 days between August 2 and August 19.
Cornell-Duranleau, a hairstylist who was in a relationship with Lathem, was found dead inside Lathem's apartment on July 27. Lathem's lawyer, Barry Sheppard, who spoke to reporters after the hearing, said that people should not "rush to judgment".
In Pennsylvania , 54% of voters disapproved of Trump's job performance, and in Wisconsin , 56% said they disapproved. Trump's performance as president has been embarrassing to almost two-thirds of those polled in each state.
Police are said to have shot the man who struck in the western city of Turku , and are looking for more potential suspects. People are requested to avoid the city centre, ' tweeted the South-West Finland police earlier .
Saaho will showcase high-octane action sequences for which the makers have roped in a world acclaimed action choreographer. The film will also see Neil Nitin Mukhesh playing the antagonist while Prabhas dons the role of protagonist yet again.
Excluding cars, retail sales still rose 0.5 per cent, while leaving out the volatile gasoline segment, sales were up 0.7 per cent. Internet-driven purchases probably received a boost from the spike in online shopping tied to Amazon.com's Prime Day event.
Chunying said the People's Liberation Army (PLA) troops always patrol along the Chinese side of the Line of Actual Control (LAC). Of the 3,488-km-long India-China border from Jammu and Kashmir to Arunachal Pradesh, a 220-km section falls in Sikkim.