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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11 April 2011

Norway State DFI acquires Faroe Petroleum’s interest in the Maria discovery in a swap deal. Swap deal ID 11788

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
    • Petoro acquired portfolio
      • Maria (30%)
    • Faroe acquired portfolio
      • Brage (14.26%)
      • Jotun (3%)
      • Njord and Hyme (7.5%)
      • Ringhorne Øst (7.8%)
      • Decommissioning liability
    • Retention of decommissioning costs - a sign of things to come?
    • Faroe Petroleum
    • Petoro
    • 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:

  • Document

    Norway State DFI acquires Faroe Petroleum’s interest in the Maria discovery in a swap deal. Swap deal ID 11788

    PDF 459.43 KB

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