Maersk Oil acquired by Totalenergies
Context
Total has entered into an agreement to acquire the entire share capital of Maersk Oil from A.P. Møller – Mærsk, as part of a structured transaction combining equity and debt assumption. This deal is strategically aimed at strengthening Total's exploration and production portfolio, with a clear intention to expand its exposure to high-quality conventional offshore assets. The transaction involves a full ownership stake, enabling the integration of Maersk Oil's operations into Total's upstream activities. The agreement also includes the issuance of new shares to the selling shareholder, thereby reinforcing the equity link between the two groups and cementing a long-term industrial partnership. Furthermore, the deal structure includes the assumption of financial commitments related to the target company, in accordance with the terms agreed upon by the parties.
Maersk Oil, which reported an EBITDA margin of [members only] in 2016, is valued in this transaction at an EV/EBITDA multiple of below 5x.
Target
Maersk Oil is a leading oil and gas exploration and production company with a long history of operation within the A.P. Møller – Mærsk group. The company boasts a diversified upstream portfolio, primarily focused on conventional offshore resources, with a strong presence in Northern Europe, particularly in the North Sea. Leveraging several decades of operational expertise in complex and mature offshore environments, Maersk Oil occupies key positions as operator and partner in strategic projects. Its asset portfolio comprises significant stakes in major oil and gas fields across the UK, Norway, and Denmark, as well as complementary positions in other international regions. Notably, Maersk Oil is involved in major offshore developments, including producing and advanced development projects, which contribute to a stable and diversified production base.
Ent. Value
$1–10bn
Equity Value
[members only]
Multiples
EV / Revenue
1x–3x
EV / EBITDA
below 5x
EV / EBIT
[members only]
Historical Financials (USD)
Other operations with Totalenergies
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 12/2025 | TOTALENERGIES | VSB GROUP | GERMANY | Renewables |
| 11/2025 | TOTALENERGIES | ENERGETICKÝ A PRŮMYSLOVÝ EPH | CZECH REPUBLIC | Conventional Power (Nuclear, Gas, Coal) |
Similar deals in Oil & Gas
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 10/2026 | EQT CORPORATION | RANGE RESOURCES | UNITED STATES | Upstream (Exploration & Production) |
| 09/2026 | ENBRIDGE | TALLGRASS CRUDE TRANSPORTATION | UNITED STATES | Midstream (Infrastructure) |
| 07/2026 | ADNOC DISTRIBUTION | SHELL DOWNSTREAM SOUTH AFRICA | SOUTH AFRICA | Downstream (Refining & Retail) |
| 07/2026 | KKR / ENERGY CAPITAL PARTNERS | DCC ENERGY | IRELAND | Downstream (Refining & Retail) |
| 07/2026 | MAGNOLIA OIL & GAS CORPORATION | WILDFIRE ENERGY | UNITED STATES | Upstream (Exploration & Production) |
| 02/2026 | TRANSOCEAN | VALARIS | UNITED KINGDOM | Upstream (Exploration & Production) |
REFERENCES
Valuation range: EV $1–10bn
Revenue range: $1–10bn
EBITDA range: $1–10bn
EV/Revenue range: 1x - 3x
EV/EBITDA range: below 5x
Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Maersk Oil by Totalenergies are reserved for mynth community members. Register for free to unlock full data.
Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Press release: view release
Acquirer: totalenergies
FAQ
What transaction does this page cover?
How was the acquisition of Maersk Oil by Totalenergies valued, and what multiples were paid?
What were Maersk Oil’s revenue and EBITDA at the time of the deal?
What sources support the information on this transaction?
What is mynth?