One-Page Deal Sheet
Total Sells Nigerian Block to Sinopec
Sinopec Total SA
Announced Date
November 06,2012
Close Date
November 19,2012
Transaction Type
Property
Enterprise Value (EV)($MM)
2500
Asset/Basin:
{"Niger Delta"}
Location
Region
Africa - West Africa
Country
Nigeria
Transaction Details: Subscribe to see
a href="http://static.lngworldnews.com/wp-content/uploads/2012/11/Total-Sels-Interest-in-OML-138-Block-to-Sinopec.jpg">
Total said that it has finalized an agreement to sell its 20% contractor interest in OML 138 block to a wholly owned subsidiary of China Petrochemical Corporation (Sinopec), for approximately US$2.5 billion in cash.
The agreement is subject to approval by the Nigerian authorities.
The OML 138 block contains the Usan field which started production in February 2012.
“The transaction is aligned with Total’s active portfolio management. Usan accounts for less than 10% of the…
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