EnergyWatch

Wood Mackenzie: Maersk defeat was key factor in acquisition

The North Sea was just one of many factors that woke Total's interest in Maersk Oil. Another was the opportunity to take over the expertise that the Danish firm still possessed after the French oil major had nabbed huge fields from the Danish company.

The sales pitch was all about the North Sea.

This is how Total's acquisition of Maersk Oil has been portrayed by many, as the newly acquired Danish, British, and Norwegian fields offer the French firm a politically stable source of production, while at the same time launching the company into the position of second-largest North Sea player after Statoil.

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