Deal Insight
Total acquires Maersk Oil for US$7.45 billion
This report is currently unavailable
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Total is buying Maersk Oil from A.P. Møller-Mærsk for US$7.45 billion, comprising US$4.95 billion in shares and the assumption of US$2.5 billion in debt. Maersk's portfolio is dominated by conventional assets, and weighted to oil (liquids accounts for 87% of projected 2018 volumes, falling to 72% by 2023). Total gains access to the prized Johan Sverdrup development (8.44%); the UK's largest gas development – Culzean (49.99%); and deepwater GoM field, Jack (25%). The rest of the portfolio consists of mainly legacy, mature assets in Denmark and the UK, a maturing oil portfolio onshore Algeria and long-term oil opportunities in Kenya. We believe there are also technology and EOR expertise synergies at Al Shaheen (Qatar, a discovered resource opportunity recently taken over by Total) and Iran.
Table of contents
- Executive summary
- Transaction details
- Upstream assets
- Deal analysis
- Upsides and risks
-
Strategic rationale
- Maersk
- Total
- UK
- Norway
- Denmark
- US
- Algeria
- Kenya
- 2 more item(s)...
- Oil & gas pricing and assumptions
Tables and charts
This report includes the following images and tables:
-
Executive summary: Table 1WM remaining commercial reserves (mmboe) by country; by asset (top 10)Maersk Oil country position matrix
-
Entitlement production by countryUK production by assetUpstream assets: Table 1WM Remaining NPV10 (US$M) by country; by asset (top 10)Deal analysis: Table 1Deal analysis: Table 2Deal analysis: Table 3Oil & gas pricing and assumptions: Table 1Oil & gas pricing and assumptions: Table 2
- 2 more item(s)...
What's included
This report contains:
Other reports you may be interested in
Asset Report
East Baghdad South
The East Baghdad South field forms the southern segment of the larger East Baghdad oilfield and lies approximately 70 kilometres northwest
$3,720
Asset Report
Norilsk copper mine
A detailed analysis of the Norilsk copper mine.
$2,250
Asset Report
Zafranal copper mine project
A detailed production, commercial and competitive analysis of the Zafranal copper minesite project.
$2,250
