LA DEFENSE (dpa-AFX) - TotalEnergies (TTE, TTE.L) said Monday that it agreed to sell to Kistos Energy Limited a 20% interest in the Greater Laggan Area fields and in the Shetland Gas Plant in the UK, as well as interests in several nearby exploration licenses.
The transaction price includes a firm consideration of $125 million, as well as two contingent payments, the first one up to $40 million depending on the gas price in 2022, and the second one in the event of development of a discovery on an exploration license.
Following completion of the deal, TotalEnergies E&P UK will hold a 40% operated interest in the Laggan, Tormore, Glenlivet, Edradour and Glendronach fields, including infield facilities and the onshore Shetland Gas Plant, alongside partners Kistos Energy Limited (20%), Ineos E&P UK Limited (20%) and RockRose UKCS15 Limited (20%).
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