Deal Insight
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, ...
Table of contents
- Executive summary
- Transaction details
-
Upstream assets
- North Coast Marine Area (NCMA-1)
- Blocks 22, 1(a) and 1(b)
- Deal analysis
-
Upsides and risks
- Proving up additional NCMA-1 reserves
- Finding a commercial gas market for the technical reserves remains a priority
-
Strategic rationale
- Centrica
- Suncor
- Government of T&T
- 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
- Suncor's Trinidadian portfolio and Centrica's existing exploration interest, Block 2(ab)
- Upstream assets: Table 1
What's included
This report contains:
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