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
-
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:
Other reports you may be interested in
30 March 2022
PNG LNG - commercial overview
Asset Report
PNG LNG - commercial overview
The Papua New Guinea LNG (PNG LNG) project is a two-train LNG development operated by ExxonMobil. Feed gas is sourced from several fields.
$2,25030 June 2022
Papua New Guinea upstream summary
Country Report
Papua New Guinea upstream summary
Key operators and projects - Papua New Guinea's upstream industry has traditionally been an oil province, with production beginning ...
$5,40021 October 2021
GLNG - commercial overview
Asset Report
GLNG - commercial overview
GLNG is an integrated coal seam gas (CSG) to LNG project currently under development in Queensland, operated by Santos.
$2,250
