Total Acquires Maersk Oil for USD 7.45 Billion

With the agreement A.P. Moller - Maersk is taking a material step forward in its strategy to separate out its oil and oil related activities to create an integrated transport & logistics company, and this transaction will contribute significantly to upholding its strong capital structure.

Denmark will become the regional hub for all Total’s operations in Denmark, Norway and the Netherlands, based on Maersk Oil’s capabilities and strong position in the North Sea region.

"The combination of Maersk Oil's North-Western Europe businesses with our existing portfolio will position Total as the second operator in the North Sea with strong production profiles in UK, Norway and Denmark." Said Patrick Pouyanné, chairman and chief executive of Total.

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-Maersk Oil