Total closes the sale of non-core UK assets to NEO Energy
07 August, 2020
Total closed the sale of UK North Sea non-core assets to NEO Energy on 6 August 2020.
" As announced on May 20, we have worked closely with HitecVision and its portfolio company NEO Energy to conclude this sale. This sale of assets contributes to the action plan currently being implemented to address the economic crisis by focusing on cash delivery and demonstrates our ability to relentlessly lower the breakeven of our portfolio. " declared Jean-Pierre Sbraire, Chief Financial Officer of Total.
The detailed transition plan prepared with NEO Energy will ensure a smooth transfer of operations.
Total is a broad energy company that produces and markets fuels, natural gas and low-carbon electricity. The company currently employs 100,000 people and is active in more than 130 countries.