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BRIEF-Total says Maersk Oil $3 bln decommissioning liabilities taken into account
August 21, 2017 / 1:00 PM / a month ago

BRIEF-Total says Maersk Oil $3 bln decommissioning liabilities taken into account

Aug 21 (Reuters) - Total

* CEO Patrick Pouyanne says the company took account of about $3 billion decommissioning liabilities linked to Maersk Oil deal valuation.

* Total is buying Maersk’s oil and gas business in a $7.45 billion deal which the French energy major said would strengthen its operations in the North Sea and boost earnings and cash flow.

* “We took all rights and obligations of the portfolio. In terms of cash flow, it is limited in impact on the first years and postponed beyond 2035-2040, so the decommissioning liabilities are fully taken into account and there are no surprises,” Pouyanne told analysts in a call. Further company coverage: (Reporting by Bate Felix, editing by Sybille de La Hamaide)

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