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Afren to Acquire 60% Interest in Barda Rash PSC from Komet Group - The Deal Marks Afren's Entry into Kurdistan Product Image

Afren to Acquire 60% Interest in Barda Rash PSC from Komet Group - The Deal Marks Afren's Entry into Kurdistan

  • Published: August 2011
  • 8 pages
  • GlobalData

Afren to Acquire 60% Interest in Barda Rash PSC from Komet Group - The Deal Marks Afren’s Entry into Kurdistan - Deal Analysis From GlobalData

Summary

Afren plc (Afren) has agreed to acquire 60% participating interest in Barda Rash PSC in the north west of Erbil in Iraq from Komet Group S.A. (Komet) for a purchase consideration of $418.75m in cash. Following the acquisition, Afren will own 60% interest, and Komet Group and The Kurdistan Regional Government (KRG) will own 20% interest each in the Barda Rash. The transaction implies deal values of $10,657.99 per acre of land and $0.47 per boe (barrel of oil equivalent) of recoverable reserves.

Scope

- Rationale behind Afren acquiring interest in Barda Rash PSC
- Strategic benefits for the companies involved,
- Geography covered -Iraq

Reasons to buy

- Develop a sound understanding of the major M&A's, Partnerships, and Joint Ventures taking place in Kurdistan oil and gas industry,
- Identify the most lucrative segments to leverage on the growth oppurtunities available in the Iraq's oil & gas market,
- Get a detailed analysis of a deal to enable you to take better decisions.

1
1

1.1 List of Tables
1.2 List of Figures
2 Afren to Acquire 60% Interest in Barda Rash PSC from Komet Group
2.1 Deal Overview
2.2 Deal in Brief
2.3 Afren Takes Up a 60% Stake and Operatorship of Barda Rash PSC from Komet
2.4 Afren Acquires Siginificant Stake in Iraq’s Kurdistan Region
2.5 Afren is Expanding its Assets’ Portfolio Through Mergers and Acquisitions
2.6 Komet Sold Stake in Barda Rash PSC at a Premium Compared to What KRG Charged Afren for Stake in Ain Sifni PSC
2.7 Deal Financials and Valuations
3 Appendix
3.1 Methodology
3.2 Contact Us
3.3 Disclaimer

1.1 List of Tables
Table 1: Barda Rash, Key Statistics, July 2011
Table 2: Barda Rash PSC, Equity Details Post – Completion of the Current Deal
Table 3: Kurdistan, Asset Transactions and Acquisitions, 2010–2011 (July)
Table 4: Kurdistan, Afren, Estimated Contingent and Prospective Resources, July 2011
Table 5: Afren, Asset Transactions and Acquisitions, 2010–2011 (July)
Table 6: Companies Involved
Table 7: Financials of the Deal
Table 8: Target Information
Table 9: Target’s Recoverable Reserves Information
Table 10: Company Valuation Multiples
Table 11: Commodity Prices in $, Last Close
Table 12: Acquirer Information
Table 13: Vendor Information

1.2 List of Figures
Figure 1: Kurdistan, Oil and Gas Activity, Map, April 2011
Figure 2: Kurdistan, Barda Rash PSC, Location Map

Format Properties
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