EnQuest farms-in 70% to PA Resources' offshore Tunisian assets for a total carry of US$249 million
EnQuest has announced the acquisition of a 70% operated interest in the Didon field and Zarat Permit from PA Resources. PA Resources will retain a 30% stake. The total consideration payable could reach US$249 million, and we value the interest at US$294 million (NPV10, 1 January 2013).This deal will provide the funding to develop Tunisia's largest undeveloped offshore field, Zarat, as well as Elyssa, an oil and gas field to the south of the Zarat Permit. The Didon field is coming to ...