Sinochem Pads Colombian Portfolio Following Total Deal
Transaction Type
Sellers
Buyers
Announce Date
Post Date
Close Date
Estimated Price
$1,000.0MM
Description
To acquired WI in Cusiana Field & participation in OAM and ODC pipelines in Colombia, gaining 7,000 BOE/d.
Total has signed an agreement with Sinochem to sell TEPMA, a fully-owned affiliate of Total, that holds a working interest in the Cusiana field as well as a participation in OAM and ODC pipelines in Colombia. Total's share of production of Cusiana is around 7,000 boe/d.
The combined value of the three transactions amounts to about $1 billion.
Total will continue its exploration in Colombia, on the blocks Niscota, 50%, and Mundo Nuevo, 55%.
Total still holds a 5.2% share in the Ocensa pipeline.