Deal Insight
ONGC acquires Hess' interest in ACG, Azerbaijan, for US$1 billion
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Report summary
ONGC has agreed to buy Hess' 2.72% stake in the Azeri-Chirag-Guneshli oil project (ACG) in the Azeri sector of the Caspian Sea, and its 2.36% interest in the associated Baku-Tbilisi-Ceyhan (BTC) pipeline, for a total of US$1 billion. We value the interests at US$912 million (NPV10, discounted to 1 September 2012). Our base modelling generates an Implied Long-term Oil Price of U$98/bbl (NPV10); well above the current market average. However, upside exists in the potential ...
Table of contents
- Executive summary
- Transaction details
- Upstream assets
- Deal analysis
- Upsides and risks
-
Strategic rationale
- ONGC
- Hess
- Oil & gas pricing and assumptions
Tables and charts
This report includes 9 images and tables including:
- Executive summary: Table 1
- Upstream assets: Table 1
- Map
- Upstream assets: Table 2
- ACG production profile (gross)
- Deal analysis: Table 1
- Deal analysis: Table 2
- Oil & gas pricing and assumptions: Table 1
- Oil & gas pricing and assumptions: Table 2
What's included
This report contains:
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