M&A Deal Summary

TotalEnergies Acquires Anadarko Petroleum - Africa Assets

On May 5, 2019, TotalEnergies acquired oil/gas exploration company Anadarko Petroleum - Africa Assets from Occidental Petroleum for 8.8B USD

Acquisition Highlights
  • This is TotalEnergies’ 2nd transaction in the Oil/Gas Exploration sector.
  • This is TotalEnergies’ largest (disclosed) transaction.
  • This is TotalEnergies’ 1st transaction in South Africa.

M&A Deal Summary
Date 2019-05-05
Target Anadarko Petroleum - Africa Assets
Sector Oil/Gas Exploration
Buyer(s) TotalEnergies
Sellers(s) Occidental Petroleum
Deal Type Divestiture
Deal Value 8.8B USD

Target

Anadarko Petroleum - Africa Assets

South Africa
Anadarko Petroleum Corp. - Africa Assets are Algeria: 24.5% participating interest and operatorship of blocks 404a and 208 (Hassi Berkine, Ourhoud, and El Merk fields) in the Berkine basin in which Total already owns 12.25%. These fields represented a gross production of 320 kboe/d in 2018. Ghana: 27% participating interest in the Jubilee field and 19% participating interest in the TEN fields. These fields represented a gross production of 143 kb/d in 2018. Mozambique: 26.5% participating interest and operatorship in Area 1 where a 12.8 million tonne per year LNG project is largely derisked and close to sanction. Area 1 contains more than 60 Tcf of gas resources, of which 18 Tcf will be developed with the first two train project which is expected to come into production by 2024. South Africa: exploration licences, close to Total’s recent Brulpadda discovery.

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Buyer(S) 1

Buyer

TotalEnergies

Courbevoie, France
Category Company
Founded 1924
Sector Oil/Gas Exploration
Employees102,579
Revenue 218.9B USD (2023)
DESCRIPTION

TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables, and electricity. TotalEnergies was founded in 1924 and is based in Courbevoie, France.

DEAL STATS #
Overall 11 of 21
Sector (Oil/Gas Exploration) 2 of 5
Type (Divestiture) 2 of 7
Country (South Africa) 1 of 1
Year (2019) 2 of 4
Size (of disclosed) 1 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-18 Synova

France

Synova is a manufacturer of recycled polypropylene for the automotive sector. Synova is based in France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-01 Toshiba America LNG

Houston, Texas, United States

Toshiba America LNG Corp. exists to satisfy social needs of sustainability and energy demand by supplying LNG to customers and is responsible for coordinating and assembling the necessary infrastructure chain to produce U.S. LNG which can then be marketed by the broader Toshiba group to key focus geographies such as Latin America and the Caribbean.

Buy $15M

Seller(S) 1

SELLER

Occidental Petroleum

Houston, Texas, United States
Category Company
Founded 1920
Sector Oil/Gas Exploration
Employees11,800
Revenue 28.3B USD (2023)
DESCRIPTION

Occidental Petroleum is an oil and gas exploration and production company. Occidental is an industry provider in applying advanced technology to boost production and access hard-to-recover reserves. Occidental Petroleum was founded in 1920 and is based in Houston, Texas.

DEAL STATS #
Overall 4 of 4
Sector (Oil/Gas Exploration) 2 of 2
Type (Divestiture) 4 of 4
Country (South Africa) 1 of 1
Year (2019) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-24 Anadarko Petroleum

The Woodlands, Texas, United States

Anadarko Petroleum Corp. is an independent oil and natural gas exploration and production company. Anadarko Petroleum was formed in 1959 and is based in The Woodlands, Texas.

Buy $57.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-15 Carbon Engineering

Vancouver, British Columbia, Canada

Carbon Engineering (CE) is a climate solutions company that is focused on the global deployment of large-scale Direct Air Capture (DAC) technology that captures carbon dioxide out of the atmosphere so it can be permanently stored deep underground or used to produce clean, affordable transportation fuels. With its partners, CE is working to deploy large-scale, commercial DAC facilities in multiple markets around the globe. Carbon Engineering is based in Vancouver, British Columbia.

Buy $1.1B
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