Deal Insight

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

27 April 2010

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27 April 2010

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

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 ...

Executive summary
Transaction details
Upstream assets
Deal analysis
Upsides and risks
- Upside economics
Strategic rationale
- BP
- Total
Oil & gas pricing and assumptions

Tables and charts

This report includes 8 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
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