Deal Insight
BP and ADNOC agree Egyptian JV
Report summary
Abu Dhabi National Oil Company (ADNOC) and BP have agreed to form a new joint venture (JV) in Egypt. Upon conclusion BP will hold 51% in the JV and ADNOC 49%. The JV interests will comprise both development leases and exploration blocks. The development leases are Shorouk (Zohr, BP 10%), North Damietta (Atoll, BP 100%) and North El Burg (Satis, BP 50%). BP will also contribute its 50% equity in three exploration licences - North El Tabaya, Bellatrix-Seti East, and North El Fayrouz - into the newly formed JV.
Table of contents
- Executive summary
- Transaction details
-
Upstream assets
- Shorouk (Zohr)
- North Damietta (Atoll)
- North El Burg (Satis)
- Exploration
- Deal analysis
-
Upsides and risks
- Upsides:
- Risks:
-
Strategic rationale
- ADNOC
- BP
- Oil & gas pricing and assumptions
Tables and charts
This report includes 7 images and tables including:
- Executive summary: Table 1
- Deal analysis: Table 1
- Deal analysis: Table 2
- Oil & gas pricing and assumptions: Table 1
- Oil & gas pricing and assumptions: Table 2
- ADNOC-BP JV Eastern Mediterranean acreage
- Reserves and Production net to ADNOC
What's included
This report contains:
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