Total & Maersk Oil: combining the best of our expertise
Total’s acquisition of the Danish exploration & production company Maersk Oil closed successfully on March 8th, 2018. In an ever more complex environment, our two companies have combined their strengths to better meet the oil and gas industry’s technical and business challenges.
To move together towards success, we can tap into common values and shared objectives, including safety, a pioneer spirit, a focus on operational excellence, a goal of profitable growth and a commitment to the climate. In addition, a number of our areas of exploration & production expertise abound with innovative technology: combining the best of them will give our operations and projects a critical edge.
World-class assets and complementary portfolios. With strong roots in Denmark, Norway and the United Kingdom, we are becoming a new leader in the North Sea, boosting our presence in the region, one of our longstanding cornerstones alongside Africa and the Middle East. We have some promising opportunities to look forward to, including two major developments: the HP/HT Culzean field near the Elgin-Franklin hub and the giant Johan Sverdrup oil field in Norway’s offshore. Not to mention the redevelopment of Tyra in Denmark. Outside Europe, we are also strengthening our portfolio in the Gulf of Mexico with the Jack field, as well as in East Africa, Angola, Kazakhstan and Brazil. Plus, Hassi Berkine makes us the second-ranked international company in Algeria.
Technical expertise recognized worldwide. Over more than 50 years, Maersk Oil has built a solid reputation as a conventional offshore operator, especially in the chalk reservoirs discovered in Denmark and Qatar, which are similar to formations also found in Libya, the Middle East and the United States. This expertise will be invaluable for our Group’s future projects. Our colleagues have also developed innovative drilling solutions that will enhance our own expertise.
Highly qualified people. Maersk Oil’s teams are valued for their technical and operational capabilities. We saw this first hand when we took over as operator of Qatar’s Al-Shaheen field, where we recognized the professionalism with which they had developed the field over 20 years.
Committed to our ambition to be the most profitable, sustainable exploration & production company by 2020, we are embarking on an adventure full of promise together, with the technical and technological excellence of our people as a common denominator.
Acquisition of Maersk oil in Figures