The state oil organization of the energy rich capital of the United Arab Emirates says it has marked an arrangement worth $1.45 billion with French oil goliath Total SA conceding it stakes in seaward fields.

The Abu Dhabi National Oil Co. put forth the declaration in an announcement Sunday.

It said Total would be allowed a 20 percent stake in the Umm Shaif and Nasr concessions and a 5 percent stake in the Lower Zakum concession, paying support charges of $1.15 billion and $300 million, separately.

The oil firm says the arrangements have a 40-year term.

Lower Zakum creates nearly 450,000 barrels of oil for each day, while the Umm Shaif and Nasr fields deliver somewhere in the range of 460,000, and additionally around 500 million standard cubic feet for every day of natural gas.