Deal insight

BP sells its interest in the CATS pipeline & infrastructure to Antin Infrastructure Partners

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Report summary

Antin Infrastructure Partners agreed to acquire BP's operated interest in CATS for US$486 million. This follows the private equity firm's acquisition of BG's 62.78% equity in June 2014 bringing its total interest in CATS to 99%. The Culzean and Jackdaw pre FID projects are expected to contribute about 50% of its throughput by 2023. The CATS valuation is not directly dependent on the oil price. CATs has strong future cash flow potential provided the pre FID projects are sanctioned.

What's included

This report contains

  • Document

    BP sells its interest in the CATS pipeline & infrastructure to Antin Infrastructure Partners

    PDF 544.64 KB

Table of contents

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

Tables and charts

This report includes 4 images and tables including:

Images

  • CATS Throughput and Utilisation
  • CATS Infrastructure and Users

Tables

  • Executive summary: Table 1
  • Oil & gas pricing and assumptions: Table 1

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