Total has just announced that it has officially acquired Maersk Oil and that the acquisition is now completed. This happens after The Danish Energy Agency approved the sale last week.
On 21 August 2017 Maersk announced they had chosen to divest their oil and gas division to the French company Total.
With the acquisition Total will become the second-largest operator in the North Sea. Prior to the acquisition Total’s CEO, Patrick Pouyanné, stated that within a few years Total’s production in the North Sea will be at 500000 barrels of oil equivalents per day.
Total has chosen to place the regional hub for their North Sea production in Denmark. The pooling of Maersk Oil and Total’s technological and operational expertise ensures a strong headquarter that can optimize and develop the potential.
“We welcome Total. It is good news for Denmark and the industry that a large player like Total chooses Denmark as their regional headquarter. This shows Denmark’s strong oil and gas competencies and the great continued potential of the North Sea”, says Martin Næsby .