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On 20 November 2014, SapuraKencana Petroleum Berhad announced it had entered three conditional sale and purchase agreements (SPAs) with Petronas Carigali, to acquire oil and gas assets in Vietnam. The three Vietnamese assets sold by Petronas Carigali are a mixture of early-midlife oil/gas assets and shallow-water oil/gas discoveries. We value the commercial assets at US$498 million, compared to the US$400 million paid by SapuraKencana.
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PETRONAS sells out of three blocks offshore Vietnam to SapuraKencana for US$400 million PDF - 294.04 KB 6 Pages, 7 Tables, 0 Figures
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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.
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Deal insight | Nov 2014
PETRONAS sells out of three blocks offshore Vietnam to SapuraKencana for US$400 million
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