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PERTAMINA acquires a 24.53% stake in Maurel & Prom from Pacifico


PERTAMINA acquires a 24.53% stake in Maurel & Prom from Pacifico

Report summary

PERTAMINA - Indonesia's NOC - will acquire Maurel & Prom's shares held by Pacifico, a company fully-owned by Maurel & Prom CEO Jean-Francois Henin. As a result, PERTAMINA will control 24.53% of the French exploration and production company. The selling price has been set at US$4.69 per share, valuing the equity stake at US$218 million. The figure rises to US$342 million, when incorporating a pro-rata share of Maurel & Prom's debt and working capital. The Indonesian company will acquire a stake in Gabon's main producing asset - Ezanga - as well as access to Nigeria's upstream market through Maurel & Prom's 21.37% equity interest in SEPLAT. Maurel & Prom 's exploration acreage in Gabon, Colombia and Myanmar also retains potential and will diversify PERTAMINA's portfolio away from its core business in Indonesia. Subject to a recommendation by the board of directors, PERTAMINA intends to launch a voluntary tender offer and take full control of the Paris-listed independent company.

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Description

The upstream oil and gas industry conducts activities against a backdrop of growing energy and environmental challenges. Political instabilities, international conflicts and government and environmental regulation have all impacted the production process.

This has forced companies to re-examine their corporate strategy, moving away from high-risk exploratory drilling to lower-risk exploration in mature basins as they search for increased returns.

This Upstream Oil and Gas Deal Insight report provides an in-depth analysis of this deal. You will also find information about upstream assets and the strategic rationale behind the deal.

For investors and businesses, this deal insight report provides an understanding of the effect this deal will have on the market, including oil and gas pricing and assumptions. Use it to keep up to date with deal announcements, gain expert insights and analyse potential developments that might affect your strategy.

Wood Mackenzie goes beyond company-reported data and announcements to give you an independent and informed view. Our unique valuation metrics are underpinned by our deep understanding of upstream assets and companies. We help you objectively benchmark and evaluate asset and corporate deals so you can compare deal economics around the world.

  • Executive summary
  • Transaction details
  • Upstream assets
  • Deal analysis
  • Upsides and risks
  • Strategic rationale
  • Oil & gas pricing and assumptions

In this report there are 7 tables or charts, including:

  • Executive summary
    • Executive summary: Table 1
  • Transaction details
  • Upstream assets
    • Upstream assets: Table 1
  • Deal analysis
    • Deal analysis: Table 1
    • Deal analysis: Table 2
    • Deal analysis: Table 3
  • Upsides and risks
  • Strategic rationale
  • Oil & gas pricing and assumptions
    • Oil & gas pricing and assumptions: Table 1
    • Oil & gas pricing and assumptions: Table 2
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