London +4420 814 42225
Moscow +7495 543 9194
Kiev +38044 599 2950
info@mrcplast.com

Our Clients

Order Informer

 
Home > News >
 

Total enters USD8.8B deal with Occidental for Anadarkos Africa assets

May 16/2019

MOSCW (MRC) -- French energy major Total said it had reached a binding agreement with Occidental to acquire Anadarko assets in Algeria, Ghana, Mozambique and South Africa for a consideration of USD8.8 billion, as per Hydrocarbonprocessing.

The firm said the transaction was contingent upon Occidental entering into and completing its proposed acquisition of Anadarko and approval of relevant authorities. The deal is expected to close in 2020.

Total said the assets represented around 1.2 billion barrels of oil equivalent (boe) of 2P reserves, of which 70 percent is gas, plus 2 billion boe of long term natural gas resources in Mozambique.

It added that despite the capital investment in Mozambique LNG, the acquisition is expected to be free cashflow positive from 2020 even at a Brent price of less than USD50 per barrel and to generate more than USD1 billion a year of free cashflow from 2025 onwards after start-up of Mozambique LNG.

The firm confirmed its previously announced shareholder return policy from 2018 to 2020.


mrcplast.com
Author:Anna Larionova
Tags:petroleum products, petrochemistry, Crude oil, Total Petrochemicals.
Category:General News
|
| More

Leave a comment

MRC help

 


 All News   News subscribe