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Centrica acquires Suncor's interests in Trinidad & Tobago

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Report summary

Centrica has announced the acquisition of Suncor Energy's Trinidadian portfolio for US$380 million. The majority of the deal value lies in Block NCMA-1, an important gas supplier to the Atlantic LNG plant. The other interests - Blocks 22, 1(a) and 1(b) - hold sizable ‘technical' gas resource, the potential monetisation of which represents a clear long-term upside to our base case valuation.The deal marks Centrica's first material upstream acquisition outside of Europe, ...

What's included

This report contains

  • Document

    Centrica acquires Suncor's interests in Trinidad & Tobago

    PDF 679.65 KB

Table of contents

  • Executive summary
  • Transaction details
    • North Coast Marine Area (NCMA-1)
    • Blocks 22, 1(a) and 1(b)
  • Deal analysis
    • Proving up additional NCMA-1 reserves
    • Finding a commercial gas market for the technical reserves remains a priority
    • Centrica
    • Suncor
    • Government of T&T
  • Oil & gas pricing and assumptions

Tables and charts

This report includes 7 images and tables including:

Images

  • Suncor's Trinidadian portfolio and Centrica's existing exploration interest, Block 2(ab)

Tables

  • 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
  • Upstream assets: Table 1

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