Deal insight

BP takes more Tangguh LNG (Indonesia) in US$305m Repsol deal

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Report summary

Repsol has sold its 3.06% stake in the Tangguh Joint Venture to BP for US$305 million. We value the deal at US$363 million (NPV10, December 2016 effective date, US$70/bbl long-term). This represents a 19% premium on the price paid. Our valuation is highly sensitive to oil price variations, falling to US$244 million under a low oil price scenario but rising to US$482 million under a high oil price scenario.

What's included

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  • Document

    BP takes more Tangguh LNG (Indonesia) in US$305m Repsol deal

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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 7 images and tables including:

Tables

  • Executive summary: Table 1
  • Upstream assets: Table 1
  • Deal analysis: Table 1
  • Deal analysis: Table 2
  • Deal analysis: Table 3
  • Oil & gas pricing and assumptions: Table 1
  • Oil & gas pricing and assumptions: Table 2

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