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Total SA to Sell 25% Interest in Tempa Rossa Field to Mitsui E&P Italia A S.r.l.-DJ

Monday, 18 Mar 2013 07:21am EDT 

Dow Jones reported that Total SA announced that it has finalized an agreement to sell a 25% interest in the Tempa Rossa field, located in the Basilicata region of southern Italy, to Mitsui E&P Italia A S.r.l. The Company is retaining a 50% interest in the Gorgoglione concession and operatorship. The remaining 25% is held by Shell. The transfer of interests will take effect after the Italian authorities have approved the transaction. Financial terms of the transaction were not disclosed. The Tempa Rossa field is scheduled to come on stream in early 2016, producing 50,000 barrels of oil per day at plateau, along with 230,000 cubic meters of natural gas and 240 metric tons of LPG per day. 

Company Quote

0.205 +0.48%
19 Dec 2014