Mitsui acquires 25% in the Tempa Rossa field from Total
Mitsui & Co has announced the acquisition of a 25% stake in the Tempa Rossa field in Italy from Total. Total will retain a 50% operated interest. The purchase price was not disclosed, but we value the interest at US$889 million (NPV10, 1 November 2012).Tempa Rossa will be the second biggest liquids producer in Italy once it is brought onstream, in 2016. The field was discovered in 1989, but progress towards development has been hampered by delays, and the start-up date pushed back ...