Total announces purchase of Dutch oil group

PARIS: French energy giant Total said on Wednesday it had bought the Dutch oil group Goal Petroleum for 480 million dollars (330 million euros) from its Canadian owner.

Total signed a deal with the Canadian group, Talisman Energy, to buy its Dutch subsidiary pending approval from authorities in the Netherlands, the French company said in a statement.

The takeover will allow Total to boost its production in the Netherlands by 8,000 barrels of oil equivalent per day by 2011. Total currently produces around 44,000 barrels there per day.