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Centrica to Acquire Oil and Gas Assets in Norway North Sea from Statoil for $1,625m - Move to Strengthen Centrica's Upstream Operations in the North Sea
GlobalData, Dec 2011, Pages: 10
Centrica to Acquire Oil and Gas Assets in Norway North Sea from Statoil for $1,625m - Move to Strengthen Centrica’s Upstream Operations in the North Sea - Deal Analysis From GlobalData
Summary
Centrica plc (Centrica) agreed to acquire producing and developable oil and gas assets in the Norwegian sector of the North Sea from Statoil Petroleum AS, a wholly owned subsidiary of Statoil ASA (Statoil), for a purchase consideration of $1,625m, including a contingent consideration of $100m on future production performance of the Kvitebjørn asset. The transaction has an effective date of January 1, 2012. Lambert Energy Advisory Limited is acting as financial advisor to Statoil in the transaction. The transaction implies deal values of $47,794.12 per boe of daily production and $13.89 per boe of 2P reserves.
Scope
- Rationale behind Centrica acquiring assets in NorwegianNorth Sea,
- Strategic benefits for the companies involved,
- Geography covered - Norway
Reasons to buy
- Develop a sound understanding of the major M&A's, Partnerships, and Joint Ventures taking place in European industry,
- Identify the most lucrative segments to leverage on the growth oppurtunities available in the Norway's oil & gas market,
- Get a detailed analysis of a deal to enable you to take better decisions.
Keywords
Centrica, North Sea, Statoil Petroleum, Statoil, Kvitebjørn, Valemon, East Frigg Gamma, Delta, Rind, Fulla, Heimdal, Vale, Skirne, Byggve, Norway
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