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Four French oil and gas sources said that Total was considering selling a third of its stake in the Lagan Tourmore deposit, as well as other North Sea oil and gas assets in Great Britain for a value of total of $ 1.5 billion. The exit will include stakes in a number of smaller fields acquired by Total as part of a $ 4.95 billion transaction worth $ 4.95 billion for the year. Acquisition of oil and gas unit ABM Muller-Mersk. The agreement was concluded last March.
Among these areas are Golden Eagle, where Total holds 32%, Dembarton (30%), Bruce (43%) and Keith (25%). Bank of America Merrill Lynch is expected to manage the sale of the 20% stake in Lagan Turmore, leaving Total with a 40% stake in the field once the transaction is complete. Investment bank Lambert Energy will hold the sale of other shares
Total and Lambert Energy have declined to comment, and Bank of America Merrill Lynch has not responded to a request for comment.
For gas, Total currently holds a 60% stake in February 2016. It can produce up to 90,000 barrels of oil equivalent per day.
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