Total Sells 25% of Tempa Rossa Field to Mitsui

France's Total announced Monday that it is selling a 25-percent interest in the Tempa Rossa field, onshore southern Italy, to Mitsui E&P Italia.

Total will retain a 50-percent holding, as well as operatorship, of the concession, which is located in the Basilicata region. Shell holds the remaining 25 percent.

The Tempa Rossa field is scheduled to come on stream in early 2016, when it is expected to produce 50,000 barrels of oil per day at its peak, as well as 1.4 million cubic feet of gas per day, significantly boosting Italian oil production.

"We are very pleased with this transaction, which further strengthens the ties between Total and Mitsui," Olivier de Langavant, senior vice president for Strategy, Business, Development and R&D at Total, said in a company statement.

"It is another step toward achieving the asset disposal objectives announced by Total for the period 2012-2014."


 

 



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Petrofac Suspends Group Chief Operatin... (May 25)
 -  EnQuest On Track For Kraken First Oil ... (May 25)
 -  Energean Signs Lease Agreement for Exp... (May 25)
 -  Seadrill CEO Praises Workforce (May 24)
 -  Serinus Shuts-In Sabria Field Due to S... (May 23)


Most Popular Articles

From the Career Center
Jobs that may interest you
Automation Systems Analyst II
Expertise: Business Development
Location: Houston, TX
 
Instrumentation & Electrical Project Estimator
Expertise: Electrician|Estimating|Project Management
Location: Spring, TX
 
Rockies Regional Instrumentation & Electrical Operations Manager
Expertise: Business Development|Electrician|Operations Management
Location: Durango, CO
 
search for more jobs

Brent Crude Oil : $51.46/BBL 4.63%
Light Crude Oil : $48.9/BBL 4.78%
Natural Gas : $3.18/MMBtu 0.90%
Updated in last 24 hours