Deal Insight
BP acquires 49% in the giant Kharampurskoye development
Report summary
BP is leveraging its long-term relationship with Rosneft and is getting access to a major gas field in West Siberia adding about 760 mmcfd of gas production to its portfolio in 2028 - in line with its strategy of increasing exposure to gas projects. The Kharampurskoye field lies in the Yamal-Nenets region of West Siberia, which is the core of Russia's hydrocarbon production capacity with a vastly developed domestic and export infrastructure. The field's oil production has been in decline since end-1990s, and the operator's focus has shifted to its large gas potential. The first phase of gas production will come from the Cenomanian layer in 2019-2020, while the second stage envisages gas production from the low permeability, shallow Turonian horizon, where commercial production is expected to start in 2025.
Table of contents
- Executive summary
- Transaction details
- Upstream assets
- Deal analysis
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Upsides and risks
- Upsides
- Risks
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Strategic rationale
- BP
- Rosneft
- Oil & gas pricing and assumptions
Tables and charts
This report includes 7 images and tables including:
- Executive summary: Table 1
- Upstream assets: Table 1
- Deal analysis: Table 1
- Deal analysis: Table 2
- Oil & gas pricing and assumptions: Table 1
- Oil & gas pricing and assumptions: Table 2
- 1) BP production outlook (ex-Rosneft); 2) Gas as % of total production (BP ex-Rosneft)
What's included
This report contains:
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