FILE - In this October 23, 2013, file photo of A.P. Moller-Maersk's oil rig in the North Sea named Halfdan.
"We are also very pleased that we will have a new anchor point in Denmark which will host our North Sea Business Unit and supervise our operations in Denmark, Norway and the Netherlands". It will add output of about 160,000 barrels a day of oil equivalent to the French group next year, rising to 200,000 a day by 2020.
Other recent deals have seen Shell offload its North Sea business to Chrysaor, a private equity backed company, while May saw Engie, the French utlity giant that used to be called Gaz de France, sell its exploration and production assets - most of which are in the North Sea - to Neptune, which is led by Sam Laidlaw, the former Centrica chief executive.
This transaction will make Total the second largest operator in the NW Europe offshore region which is the 7th largest oil and gas producing region globally.
The deal with Total has been settled entirely in shares, but given the big premium to the $4.7bn (£3.7bn) at which Deutsche Bank had valued the assets Maersk shareholders won't mind, says Bloomberg.
As part of the deal, the company will get $4.95 billion worth of Total shares. Mr Pouyanné said that the additional value to the company's portfolio would help it reach a lower breakeven oil price.
After the signing the deal, Maersk will retain an interest in the sector through 97.5 million shares in the French energy conglomerate, equal to 3.76% of Total.
This is not the only deal that Total has taken part in this year. Shares in AP Moller-Maersk closed up 2.9 percent at 13,170 Danish kroner on the Copenhagen Stock Exchange, while Total's share price in Paris ended 0.3 percent higher at 42.78 euros.
Total is also taking over short-term debt valued at Dollars 2.5 billion and closure obligations worth USD 2.9 billion.
"Total took operatorship of the large Al Shaheen oil field in Qatar last month and will be looking to leverage Maersk's intimate knowledge of the asset", says Kretzschmar. The deal has been approved by both companies' boards but remains subject to shareholder votes and regulatory approvals. The transaction is expected to close during the first quarter of 2018 and has an effective date of July 1, 2017. Total will update its company-wide cost-savings plan in mid-September, said Pouyanne.