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TNK-BP acquires BP's interests in Venezuela and Vietnam

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18 October 2010

TNK-BP acquires BP's interests in Venezuela and Vietnam

Report summary

TNK-BP has announced the acquisition of BP's Venezuelan and Vietnamese upstream assets. The cash consideration of US$1.8 billion is in line with our base case valuation of US$1.78 billion. The transaction marks BP's withdrawal from both countries, as well as TNK-BP's first material move outside of Russia. The acquired portfolio offers TNK-BP stable production and a good basis for further international growth. The company will also hope to utilise the heavy oil experience it ...

Table of contents

  • Executive summary
  • Transaction details
    • Venezuela
      • Petromonagas
      • Boquerón and DZO
    • Vietnam
      • Block 06-1 (Lan Tay/Lan Do)
      • Nam Con Son Pipeline
  • Deal analysis
  • Upsides and risks
    • TNK-BP
    • BP
  • Oil & gas pricing and assumptions

Tables and charts

This report includes 8 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
  • BP global upstream portfolio analysis: strategic fit of regions
  • Upstream assets: Table 1

What's included

This report contains:

  • Document

    TNK-BP acquires BP's interests in Venezuela and Vietnam

    PDF 491.21 KB

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