Total continues North Sea divestment to Kuwaiti company

A few months after the first production began, the impending Maersk Oil-owner Total has sold its last stake in a Norwegian oil field to Kuwait's state-owned oil company.

Photo: Statoil

The sale to the Kuwaiti company comes just two weeks after Total acquired Maersk Oil as part of its strategy to grow in the North Sea – the French company is now poised to become the second-largest player in the region after Statoil.

However, Total's North Sea strategy seems to be about more than just growth. The past year has brought rumors that the company is trying to divest parts of its 51 percent share of the Martin Linge field.

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