Total sells North Sea assets to BP

27th April 2010, Comments 0 comments

French oil giant Total on Tuesday said it was selling stakes in two North Sea operations to British peer BP for 991 million dollars.

Total said the deal covered its 15.72 percent and 25 percent holdings in the Valhall and de Hod fields in the North Sea, which it deemed to be non-strategic assets.

Total counts as the second largest oil producer in Norway, pumping some 330,000 barrels of oil equivalent per day. Its major holding is a 39.9 percent stake in the giant Ekofisk field.

© 2010 AFP

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