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KUFPEC to buy BP's 34.3% stake in the Yacheng Gas field

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Report summary

In late 2012, BP agreed to sell its 34.3% non-operated interest in the Yacheng 13-1 gas field in the Yinggehai Basin, South China Sea, to existing partner Kuwait Foreign Petroleum Exploration Company (KUFPEC) for US$308 million. The deal is scheduled to close in 2H 2013, but remains open to potential pre-emption from CNOOC.This acquisition will go a long way to helping KUFPEC achieve its 2015 production target of 130,000 boe/d, and at minimal risk: the company has paid a fair price for a ...

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    KUFPEC to buy BP's 34.3% stake in the Yacheng Gas field

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Table of contents

Tables and charts

This report includes 9 images and tables including:

Images

  • Map of Yacheng 13-1 and nearby blocks
  • KUFPEC production: Wood Mackenzie forecast (WI basis) vs. company target

Tables

  • Executive summary: Table 1
  • Upstream assets: Table 1
  • Deal analysis: Table 1
  • Deal analysis: Table 2
  • Deal analysis: Table 3
  • Oil & gas pricing and assumptions: Table 1
  • Oil & gas pricing and assumptions: Table 2

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