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

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

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?

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  • BP sells its interest in the CATS pipeline & infrastructure to Antin Infrastructure Partners PDF - 544.64 KB 5 Pages, 2 Tables, 2 Figures


The upstream oil and gas industry conducts activities against a backdrop of growing energy and environmental challenges. Political instabilities, international conflicts and government and environmental regulation have all impacted the production process.

This has forced companies to re-examine their corporate strategy, moving away from high-risk exploratory drilling to lower-risk exploration in mature basins as they search for increased returns.

This Upstream Oil and Gas Deal Insight report provides an in-depth analysis of this deal. You will also find information about upstream assets and the strategic rationale behind the deal.

For investors and businesses, this deal insight report provides an understanding of the effect this deal will have on the market, including oil and gas pricing and assumptions. Use it to keep up to date with deal announcements, gain expert insights and analyse potential developments that might affect your strategy.

Wood Mackenzie goes beyond company-reported data and announcements to give you an independent and informed view. Our unique valuation metrics are underpinned by our deep understanding of upstream assets and companies. We help you objectively benchmark and evaluate asset and corporate deals so you can compare deal economics around the world.

  • Executive summary
  • Transaction details
    • Assets
  • Deal analysis
  • Upsides and risks
    • Upsides
    • Risks
  • Strategic rationale
    • BP perspective
    • Antin Infrastructure Partners perspective
  • Oil & gas pricing and assumptions

In this report there are 4 tables or charts, including:

  • Executive summary
    • Executive summary: Table 1
  • Transaction details
    • CATS Infrastructure and Users
  • Deal analysis
    • CATS Throughput and Utilisation
  • Upsides and risks
  • Strategic rationale
  • Oil & gas pricing and assumptions
    • Oil & gas pricing and assumptions: Table 1
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