Deal Insight
Norway State DFI acquires Faroe Petroleum’s interest in the Maria discovery in a swap deal. Swap deal ID 11788
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Report summary
Faroe Petroleum and Petoro, which manages the Norwegian State's Direct Financial Interest (SDFI) portfolio, have announced a swap deal involving a series of Norwegian assets. Faroe has acquired Petoro's interest in the Brage, Hyme, Jotun, Njord and Ringhorne Øst fields in exchange for its share in the Maria discovery. There is no cash component to the deal, but Petoro will retain decommissioning liabilities up to NKr 600 million (US$103 million) on the divested assets that ...
Table of contents
- Executive summary
- Transaction details
-
Upstream assets
-
Petoro acquired portfolio
- Maria (30%)
-
Faroe acquired portfolio
- Brage (14.26%)
- Jotun (3%)
- Njord and Hyme (7.5%)
- Ringhorne Øst (7.8%)
- Decommissioning liability
-
Petoro acquired portfolio
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Deal analysis
- Retention of decommissioning costs - a sign of things to come?
-
Upsides and risks
- Faroe Petroleum
- Petoro
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Strategic rationale
- Faroe Petroleum
- Petoro (Norway SDFI)
- Oil & gas pricing and assumptions
Tables and charts
This report includes 8 images and tables including:
- Deal analysis: Table 1
- Deal analysis: Table 2
- Oil & gas pricing and assumptions: Table 1
- Oil & gas pricing and assumptions: Table 2
- Maria - project delay sensitivity; price and production sensitivity
- Faroe Petroleum - capex and upstream cash flow
- Petoro - SDFI portfolio (excludes top ten projects, and pipelines)
- Upstream assets: Table 1
What's included
This report contains:
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