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ConocoPhillips to divest its Nigerian business unit to Oando Energy Resources for US$1.79 billion

ConocoPhillips to divest its Nigerian business unit to Oando Energy Resources for US$1.79 billion

Report summary

On 20 December 2012, ConocoPhillips announced an agreement to sell its Nigerian business unit to Oando Energy Resources (OER) for a cash consideration of US$1.79 billion. The effective date is 1 January 2012. If it completes, it will mark the withdrawal of ConocoPhillips from Nigeria, and a substantial increase in the upstream portfolio of OER, which is a listed company on the Toronto Stock Exchange, and a 94.6%-owned affiliate of Oando plc, a predominantly downstream Nigerian company.The ...

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  • ConocoPhillips to divest its Nigerian business unit to Oando Energy Resources for US$1.79 billion PDF - 383.97 KB 8 Pages, 7 Tables, 0 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.

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  • Executive summary
  • Transaction details
  • Upstream assets
    • NNPC/Eni Joint Venture
    • OPL 214
    • OML 131
    • Brass LNG
  • Deal analysis
  • Upsides and risks
    • Reserves upside
    • Market upside
    • Fiscal risk
    • Security risk
  • Strategic rationale
    • Oando Energy Resources
    • ConocoPhillips
  • Oil & gas pricing and assumptions

In this report there are 7 tables or charts, including:

  • Executive summary
    • Executive summary: Table 1
  • Transaction details
  • Upstream assets
    • Upstream assets: Table 1
  • Deal analysis
    • Deal analysis: Table 1
    • Deal analysis: Table 2
    • Deal analysis: Table 3
  • Upsides and risks
  • Strategic rationale
  • Oil & gas pricing and assumptions
    • Oil & gas pricing and assumptions: Table 1
    • Oil & gas pricing and assumptions: Table 2
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