Deal Insight
Santos sells 5% in PNG LNG to Kumul
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
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:
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Strategic rationale
- Santos
- Kumul Petroleum
- Oil & gas pricing and assumptions
Tables and charts
This report includes the following images and tables:
- 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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