Deal Insight
TPAO buys Total's stake in Shah Deniz for US$1.5 bn
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Report summary
Total's decision to exit Shah Deniz was anticipated, and comes less than six months after a Final Investment Decision was taken for the US$25 billion Phase Two of the BP-operated upstream project. It also follows shortly after Statoil completed its own farm-down of a 10% interest in Shah Deniz and SCP to BP and SOCAR for US$1.45 billion, providing a clear price benchmark for Total's exit.
Table of contents
- Executive summary
- Transaction details
-
Upstream assets
- Phase Two development
- South Caucasus Pipeline
- Deal analysis
-
Upsides and risks
- Upsides
- Risks
-
Strategic rationale
- Total
- TPAO
- "One nation, two states"
- Oil & gas pricing and assumptions
Tables and charts
This report includes 8 images and tables including:
- 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
- Map
- Upstream assets: Table 1
- Upstream assets: Table 2
What's included
This report contains:
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