Deal Insight

Santos sells its non-core Asian portfolio to Ophir for US$205m

Get this report

$1,650

You can pay by card or invoice

Contact us

Submit your details to receive further information about this report.

For details on how your data is used and stored, see our Privacy Notice.
 

- FAQ's about online orders
- Find out more about subscriptions

04 May 2018

Santos sells its non-core Asian portfolio to Ophir for US$205m

Report summary

On 3 May 2018, Santos sold its non-core Asian upstream assets to Ophir Energy for US$205 million. The deal includes ~13,500 boe/d of production and 21.2 mmboe of 2P reserves from assets in Vietnam (Block 12W) and Indonesia (Sampang, Madura offshore). Exploration assets in Vietnam, Malaysia and Bangladesh are also included. We view this deal as a win-win for both Santos and Ophir. Santos had deprioritized development spending in Asia from 2016, after deeming the region non-core. Following its exit (Santos is planning a separate sales process in the North West Natuna PSC), Santos will concentrate on its core competencies, becoming a more focused LNG player. Ophir, meanwhile, will leverage the opportunity to showcase its expertise in developing mid to late-life assets that fell off the seller's list of priorities.

Table of contents

Tables and charts

This report includes 7 images and tables including:

  • Executive summary: 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
  • Upstream assets: Table 1

What's included

This report contains:

  • Document

    Santos sells its non-core Asian portfolio to Ophir for US$205m

    PDF 747.81 KB

Trusted by leading organisations