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BP acquires 30% stake in 23 Reliance blocks, including the Dhirubhai gas field


BP acquires 30% stake in 23 Reliance blocks, including the Dhirubhai gas field

Report summary

On 21 February 2011, BP announced that it will pay up to US$9 billion for a 30% stake in 23 blocks including the producing D6 area and 22 other exploration blocks in India. An initial payment of US$7.2 billion dollars will be made in three parts during 2011. This will be followed up by further payments of up to US$1.8 billion depending on exploration success. The transaction marks another bold move by BP who is seeking to re-build its upstream credentials post Macondo. Through the deal, BP ...

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  • BP acquires 30% stake in 23 Reliance blocks, including the Dhirubhai gas field PDF - 757.02 KB 8 Pages, 5 Tables, 1 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
    • Base case valuation falls short of the US$7.2 billion consideration
  • Upsides and risks
    • Upside
    • Risks
  • Strategic rationale
    • BP Strategic Rationale
    • Reliance Strategic Rationale
  • Oil & gas pricing and assumptions

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

  • Executive summary
  • Transaction details
  • Upstream assets
    • Upstream assets: Table 1
    • Map
  • Deal analysis
    • Deal analysis: Table 1
    • Deal analysis: Table 2
  • Upsides and risks
  • Strategic rationale
  • Oil & gas pricing and assumptions
    • Oil & gas pricing and assumptions: Table 1
    • Oil & gas pricing and assumptions: Table 2
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