Total sells E&P assets in Trinidad and Tobago

9/30/2013

Total sells E&P assets in Trinidad and Tobago

BY RUTH BENDER

PARIS -- French oil giant Total SA said it has sold all of its exploration and production assets in Trinidad and Tobago for $473 million to The National Gas Company of Trinidad &Tobago.

Total announced the transfer of all of its E&P assets in Trinidad to The National Gas Company of Trinidad &Tobago through the sale of its subsidiaries Total E&P Trinidad B.V and Elf Exploration Trinidad B.V.

The transaction is valued at $473 million, effective as of January 1, 2012.

This transaction has already been approved by the relevant authorities and was closed on September 30, 2013.

Total is still present in Trinidad & Tobago in the distribution of oil products through its subsidiary Total R&M Trinidad & Tobago Ltd.

Dow Jones Newswires

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