Wednesday, February 8, 2012

Total sells Colombian assets for $1 billion

Total has agreed to sell TEPMA BV to Sinochem . This fully owned affiliate of Total holds a working interest in the Cusiana field as well as a participation in OAM and ODC pipelines in Colombia. Total share of production of Cusiana is around 7,000 BOE/d. The sale follows a divestiture of 5 % WI in the Ocensa pipeline to Petrominerales and of another 5 % to Cepsa in July 2011. The combined value of the three transactions amounts to about US$ 1 billion. Continue reading here..

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