Deal Insight
Shell exits New Zealand to OMV for US$578 million
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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
Shell has sold its New Zealand assets to OMV for US$578 million, edging it closer to the end of its US$30 billion divestment program. The sale includes operatorship of two producing assets, Maui and Pohokura, and an exploratory position in the Great South Basin. This is an interesting deal, where both parties may well feel like they have walked away winners. Shell has disposed of non-core assets but avoided what could be a large abandonment liability given New Zealand's remote location, high costs and strong environmental focus. While OMV has acquired producing assets, with material resource upside that could be recaptured with the resumption of capital expenditure.
Table of contents
- Executive summary
- Transaction details
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Upstream assets
- Pohokura
- Maui
- Great South Basin
- Deal analysis
- Upsides and risks
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Strategic rationale
- Buyer - OMV
- Seller - Shell
- Oil & gas pricing and assumptions
Tables and charts
This report includes the following images and tables:
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Executive summary: Table 1Deal analysis: Table 1Deal analysis: Table 2
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Deal analysis: Table 3Oil & gas pricing and assumptions: Table 1Oil & gas pricing and assumptions: Table 2Upstream assets: Table 1
What's included
This report contains:
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