Energy Voice | Total gets ready to sell £1.1bn worth of UK North Sea assets, report says

French oil giant Total is preparing to sell more than £1 billion worth of UK North Sea assets, a news report said.

Total will offload a third of its equity in the Laggan-Tormore fields west of Shetland, Reuters reported, citing banking and industry sources.

The sale would also include stakes in a number of smaller fields bought from Maersk Oil earlier this year, including Golden Eagle, Dumbarton, Bruce and Keith.

Reuters said Bank of America Merrill Lynch would manage the sale of the 20% working interest in Laggan-Tormore, with Lambert Energy running the sale of the other assets.

Chevron has been contacted for comment.

Last week Chevron revealed it would sell its equity in central North Sea fields, while ConocoPhillips said it would reduce its stake in the Clair field.

 

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