Deal Insight
TNK-BP acquires BP's interests in Venezuela and Vietnam
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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
-
Upstream assets
-
Venezuela
- Petromonagas
- Boquerón and DZO
-
Vietnam
- Block 06-1 (Lan Tay/Lan Do)
- Nam Con Son Pipeline
-
Venezuela
- Deal analysis
- Upsides and risks
-
Strategic rationale
- 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:
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