EnergyWatch

Total exec on acquisition of Maersk Oil: fantastic deal

The acquisition of Maersk Oil will lift French oil major Total to new heights in the North Sea, according to Total executive Michael Borrell. He is more reticent about exactly how good the deal was financially.

Photo: A.P. Møller Mærsk

At French oil major Total, executive management is not hiding its enthusiasm about the acquisition of Maersk's oil activities.

Total is using the acquisition of Maersk's oil activities to establish a new, regional headquarters in Denmark as well as build the group's third technological hub. Furthermore, the team in charge of exploring new oil fields will be moved from the UK to Denmark.

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