Deal insight
| |
5 Pages

BG farms - in to a 35% interest in Noble's Aphrodite discovery for US$165 million


BG farms - in to a 35% interest in Noble's Aphrodite discovery for US$165 million

Report summary

BG has acquired a 35% interest in Block 12 offshore Cyprus, which contains the Aphrodite discovery, for US$165 million. Noble Energy retains 35% and operatorship. We estimate Aphrodite holds 4.4 tcf of recoverable gas. Some of this gas will be required to meet Cypriot domestic market obligations, while the remainder will be exported via Egypt. The field was declared commercial earlier in 2015, but we hold it as a technical asset since there is no firm investment plans for the pipeline to Egypt. Project sanction remains some way off. Approval of the acquisition, negotiations for a pipeline JV, agreements on how much gas will go to Egyptian markets versus LNG export facilities, and LNG tolling fees are all critical-path. But it is possible that Aphrodite gas routed via ELNG will be cost competitive with US LNG.

What's included?

This report includes 1 file(s)

  • BG farms - in to a 35% interest in Noble's Aphrodite discovery for US$165 million PDF - 278.81 KB 5 Pages, 3 Tables, 0 Figures

Description

The upstream oil and gas industry conducts activities against a backdrop of growing energy and environmental challenges. Political instabilities, international conflicts and government and environmental regulation have all impacted the production process.

This has forced companies to re-examine their corporate strategy, moving away from high-risk exploratory drilling to lower-risk exploration in mature basins as they search for increased returns.

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.

For investors and businesses, this deal insight report provides an understanding of the effect this deal will have on the market, including oil and gas pricing and assumptions. Use it to keep up to date with deal announcements, gain expert insights and analyse potential developments that might affect your strategy.

Wood Mackenzie goes beyond company-reported data and announcements to give you an independent and informed view. Our unique valuation metrics are underpinned by our deep understanding of upstream assets and companies. We help you objectively benchmark and evaluate asset and corporate deals so you can compare deal economics around the world.

  • Executive summary
  • Transaction details
  • Upstream assets
  • Deal analysis
  • Strategic rationale
  • Oil & gas pricing and assumptions

In this report there are 3 tables or charts, including:

  • Executive summary
    • Executive summary: Table 1
  • Transaction details
  • Upstream assets
    • Upstream assets: Table 1
  • Deal analysis
  • Strategic rationale
  • Oil & gas pricing and assumptions
    • Oil & gas pricing and assumptions: Table 1
Requester's name : .............
Department : .............
Authoriser's Name : .............
Authoriser's signature : .............
Date : .............
Cost Centre : .............

Questions about this report?

Frequently Asked Questions

Mailenquiries@woodmac.com
  • Europe: +44 131 243 4699
  • Americas: +1 713 470 1900
  • Asia Pacific: +61 2 8224 8898
contact us

Why Wood Mackenzie?

Wood Mackenzie, a Verisk Analytics business, has been a trusted source of commercial intelligence for the world's natural resources sector for more than 40 years, empowering clients to make better strategic decisions with objective analysis and advice.

We work across every sector of oil, gas, power, renewables, chemicals, metals and mining, covering more than 150 countries. Our proprietary data and models are at the core of everything we do, ensuring our independent asset and company valuations are thoroughly robust and that we offer an accurate forward-looking view of economic indicators such as market supply, demand and price trends.

Our 500+ analysts are based in the regions they cover, cultivating an unrivalled depth of understanding to help clients accurately identify new opportunities, define their strategy and improve business performance.

At every stage, our teams readily collaborate and share their insight to provide an integrated perspective across entire industries. It is this unique and rigorous analytical approach that ensures we are recognised as the industry standard by the world’s most innovative organisations.