Energy Voice | Total in talks with private firms on North Sea asset sales – report

Total is in advanced talks with a pair of investment managers to sell some of its UK North Sea assets, according to a news report.

Citing industry sources, Reuters reports that First Alpha Energy and Albion Energy Capital are in discussions with the oil operator.

It follows reports in the summer that Total was seeking to sell a third of its stake in the Laggan Tormore gas field along with other assets for £1.1bn.

Total, Albion and First Energy have been contacted for comment.

First Alpha is a private equity firm in London which was established in 2016 and has no assets at present, according to its website.

Albion Energy is the investment vehicle of Heritage Oil founder Tony Buckingham.

Total struck a deal with Serica in the summer to sell its interests in the Bruce and Keith assets in the North Sea.

The French major’s portfolio includes a 32% stake in Golden Eagle and 30% in Dumbarton.

Total completed a £5.8bn takeover of Maersk Oil in March.

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