Deal insight

BP acquires Total's share in the Norwegian Valhall and Hod fields; Hess pre-empts for a 50% share of the deal

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Report summary

BP has announced the acquisition of Total's stake in the Valhall (15.7%) and Hod (25%) fields for a consideration of US$991 million. Both fields are currently operated by BP; through the deal the company will increase its interests to 43.8% and 50% respectively. Valhall the key asset in the deal is a large oil and associated gas field located in the southern part of the Norwegian North Sea. This mature asset is currently in the latter stages of a major redevelopment project ...

What's included

This report contains

  • Document

    BP acquires Total's share in the Norwegian Valhall and Hod fields; Hess pre-empts for a 50% share of the deal

    PDF 447.17 KB

Table of contents

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

Tables and charts

This report includes 8 images and tables including:

Images

  • NPV sensitivity to upside development cost scenarios, under a range of oil price assumptions and discount rates
  • Production required in order to increase total recovery to 50% by 2050

Tables

  • 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

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