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+ Please refer to the PDF download for complete analysisBG has negotiated an HOA for the sale of a 20% stake in its QC LNG asset in Australia to CNOOC for US$1.93 million and a long term 5 mmtpa supply contract from BG to CNOOC starting in 2015. Under our base case scenario, we value an incremental 20% stake in the QCLNG project at US$1.71 billion (NPV10, as of 1 January 2012). However our valuation suggests CNOOC may have paid a premium given that BG has retained ownership of the export ...
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CNOOC to acquire stake in QCLNC from BG for US$1.93 billion PDF - 264.68 KB 2 Pages, 1 Tables, 0 Figures
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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.
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Deal insight | Oct 2012
CNOOC to acquire stake in QCLNC from BG for US$1.93 billion
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