Total plans UK North Sea asset sales in divestment drive

摘要

London-Total, the biggest oil and gas producer in the UK North Sea, is planning to sell some large upstream assets in the region as it completes a divestment program launched at the start of the oil price downturn in 2014, its CFO Patrick de La Chevardiere said Thursday. The French oil major in September 2014 set itself a target of shedding $10 billion worth of assets over the 2015-17 period under moves to boost returns and step up its financial discipline. De La Chevardiere said Total has achieved about 80% of the $10 billion disposal program to date and is still looking for a buyer for some assets in Gabon and its retail fuel venture in Italy, TotalErg.