Total agreed to pay $8.8bn for the Africa assets of Anadarko from Occidental as part of the latter’s purchase of the fellow US firm in May (MEES, 10 May). The key element, the $20bn Mozambique LNG development, closed in September. But Total anticipates completion of the takeover of Anadarko’s 300,000 b/d-operated Algeria output (65,0000 b/d net for 1H 2019) being a drawn-out affair.
“We expect to have the closing in late-2020,” Total CFO Jean-Pierre Sbraire told his firm’s Q3 earnings call on 30 October. Closing of the third element of the portfolio, production in Ghana, also remains outstanding. (CONTINUED - 429 WORDS)