Name: Shell exits onshore Gabon with US$872m sale to Carlyle-backed Assala Energy
Brand: Wood Mackenzie
SKU: 64920
Price: 1650 USD
Availability: OnlineOnly
Author: Wood Mackenzie

Deal Insight 01 March 2017

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Report summary

Shell sold its portfolio onshore Gabon to the Carlyle Group, through subsidiary company Assala Energy, for US$872 million. Assala will acquire Shell’s participation in five operated and four non-operated licences, plus control of the Gamba terminal. The Super Major leaves behind potentially challenging abandonment work, but retains an exploration foothold in Gabon through its deepwater Leopard gas discovery. The transaction marks Assala’s entry as an operator in Sub-Saharan Africa. But maintaining output on ageing fields will not be easy. Dealing with local content and licence extension will also be key to maximise value.

Executive summary
Transaction details
Upstream assets
Deal analysis
Upsides and risks
- Upside
- Risks
Strategic rationale
- Shell
- Assala Energy (Carlyle)
Oil & gas pricing and assumptions

Tables and charts

This report includes the following images and tables:

Executive summary: Table 1Map of assets included in the transactionUpstream assets: Table 1

Net liquids production profileUpstream assets: Table 2Deal analysis: Table 1Deal analysis: Table 2Deal analysis: Table 3Oil & gas pricing and assumptions: Table 1Oil & gas pricing and assumptions: Table 2