Total moves again for UTS's Fort Hills stake

摘要

FRENCH major Total looks to have succeeded in its attempt to buy UTS Energy, 18 months after its first effort. The Canadian firm is focused on the oil sands and its main asset is a stake in the delayed Fort Hills project.The agreement, announced in early July, will see Total pay C$1.5bn ($1.43bn) to capture UTS's 20% interest in Fort Hills, which is led by Suncor. UTS's remaining assets will be transferred to a new company, called SilverBirch Energy.