Deal Insight
Santos sells 5% in PNG LNG to Kumul
Report summary
Kumul Petroleum, Papua New Guinea's national oil company, has made a binding conditional offer to Santos to acquire a 5% stake in the PNG LNG project. A consideration of US$1.4 billion, including a US$300 million share of project finance debt, has been agreed. The deal, with an effective of 31 December 2022, will increase Kumul Petroleum's stake in the project to 24.6%, with Santos retaining a 37.5% interest.
Table of contents
- Executive summary
- Transaction details
- Upstream assets
- Deal analysis
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Upsides and risks
- Upsides:
- Downsides:
-
Strategic rationale
- Santos
- Kumul Petroleum
- Oil & gas pricing and assumptions
Tables and charts
This report includes 8 images and tables including:
- Executive summary: Table 1
- PNG LNG production outlook
- Upstream assets: Table 1
- Deal analysis: Table 1
- Deal analysis: Table 2
- Deal analysis: Table 3
- Oil & gas pricing and assumptions: Table 1
- Oil & gas pricing and assumptions: Table 2
What's included
This report contains:
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