Total Keeps the Pace of Divestments With Asset Sales in Brunei, Sierra Leone and Liberia
TOTAL SA (TOT)
Last total sa earnings: 2/7 04:01 pm
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Source: Business Wire
PARIS--(BUSINESS WIRE)--Regulatory News:In line with its strategy of actively managing its asset portfolio and its objective to divest 5 B$ on years 2019-2020, Total (Paris:FP) (LSE:TTA) (NYSE:TOT) is pursuing the divestments of several non-core assets in both Exploration-Production (Brunei) and Marketing & Services (Sierra Leone and Liberia). These divestments represent a global value of more than 400 million US Dollars.Brunei - Sale of Interest in Offshore BlockFollowing the approval of the competent authorities, Total has closed the sale to Shell1 of its wholly owned subsidiary Total E&P Deep Offshore Borneo BV, which holds an 86.95% interest in Block CA1. Total was the operator of the block, alongside partners Murphy Oil (8.05%) and Petronas (5%) and the production of this block was 5 kboe/d net to Total in 2019.Sierra Leone and Liberia - Sale of Marketing & Services Businesses Total has signed an agreement to sell its marketing and services businesses in Liberia and Sierra Le
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