Deal Insight

Gazpromneft and Novatek acquire Eni's 29.4% stake in SeverEnergia

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11 December 2013

Gazpromneft and Novatek acquire Eni's 29.4% stake in SeverEnergia

Report summary

The battle for one of the most promising gas assets in the north of West Siberia resulted in Gazpromneft and NOVATEK's acquisition of Eni's 29.4% indirect stake in SeverEnergia. This deal marks not only the exit of Eni from Russia's onshore upstream, but also a halt to Rosneft's seemingly unstoppable expansion in the gas sector. Rosneft had hoped to expand its stake in SeverEnergia to 49%, following its acquisition of 19.6% from Enel in September. These two deals ...

Table of contents

  • Executive summary
  • Transaction details
  • Upstream assets
    • Valuation
    • Transaction value evolution - SeverEnergia
    • Deal metrics
    • Upsides
      • Technical Resources
      • New MET terms
    • Risks
      • Access to infrastructure
      • Domestic gas prices
    • Eni
    • Gazpromneft / NOVATEK
  • Oil & gas pricing and assumptions

Tables and charts

This report includes 9 images and tables including:

  • Executive summary: Table 1
  • SeverEnergia Fields
  • Net production and capital expenditure
  • Upstream assets: Table 1
  • Oil & gas pricing and assumptions: Table 1
  • Oil & gas pricing and assumptions: Table 2
  • Deal analysis: Table 1
  • Deal analysis: Table 2
  • Deal analysis: Table 3

What's included

This report contains:

  • Document

    Gazpromneft and Novatek acquire Eni's 29.4% stake in SeverEnergia

    PDF 2.36 MB