BP acquires 49% in the giant Kharampurskoye development Report

Deal Insight 15 January 2018

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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.

Executive summary
Transaction details
Upstream assets
Deal analysis
Upsides and risks
- Upsides
- Risks
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)