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8 Pages

Total outflanks competition to secure interest in PNG's Elk/Antelope project

Total outflanks competition to secure interest in PNG's Elk/Antelope project

Report summary

In December 2013, InterOil announced a farm-in deal whereby Total will take 61.3% in its multi-tcf Elk/Antelope development in Papua New Guinea (PNG). Total will pay US$613 million upfront, with up to US$4 billion payable if certain milestones and resource thresholds are reached. Importantly for InterOil, it will retain 38.7% interest in the fields. Total faced stiff competition from ExxonMobil and Shell for a resource that has been on the market since 2011.

What's included?

This report includes 1 file(s)

  • Total outflanks competition to secure interest in PNG's Elk/Antelope project PDF - 2.14 MB 8 Pages, 2 Tables, 4 Figures


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This Upstream Oil and Gas Deal Insight report provides an in-depth analysis of this deal. You will also find information about upstream assets and the strategic rationale behind the deal.

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  • Executive summary
  • Transaction details
  • Upstream assets
  • Deal analysis
  • Strategic rationale
    • Total
    • InterOil
    • The value of early monetisation
    • ExxonMobil and the PNG LNG partners
  • Oil & gas pricing and assumptions
    • Total Project Value
    • Costs and Production
    • Discount rate and date
    • Inflation
    • Oil price
    • LNG price
    • Abandonment costs

In this report there are 6 tables or charts, including:

  • Executive summary
  • Transaction details
    • Transaction details: Table 1
  • Upstream assets
    • Gulf Region of Papua New Guinea
    • Upstream assets: Table 1
  • Deal analysis
    • Deal consideration in resource upside scenario
    • Recent LNG feedgas deal metrics
  • Strategic rationale
    • Wood Mackenzie valuation (NPV10); one train development under varying start-up and LNG pricing scenarios
  • Oil & gas pricing and assumptions
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