Total buys GDF Suez stake in two North Sea oil fields

Tue Dec 6, 2011 5:17pm GMT
 

PARIS Dec 6 (Reuters) - French oil group on Tuesday said it planned to buy GDF Suez's stake in Elgin and Franklin North Sea oil fields off Great Britain for an enterprise value of 590 million euros ($789.57 million).

The deal raises Total's stake in the fields to 46.2 percent from 35.8 percent. The French group did not provide further financial details.

The fields produce an average of 140,000 barrels of oil equivalent per day. ($1 = 0.7472 euros) (Reporting by Astrid Wendlandt)

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