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Marubeni to Acquire 49% Interest in Gulfstar One from Williams Partners: Part of Marubeni’s Plan to Boost its Presence in Oil and Gas Infrastructure Projects - Deal Analysis

Marubeni to Acquire 49% Interest in Gulfstar One from Williams Partners: Part of Marubeni’s Plan to Boost its Presence in Oil and Gas Infrastructure Projects - Deal Analysis - new market research report published


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2014-03-05 07:15:04 - Marubeni to Acquire 49% Interest in Gulfstar One from Williams Partners: Part of Marubeni’s Plan to Boost its Presence in Oil and Gas Infrastructure Projects - Deal Analysis - a new market research report on companiesandmarkets.com

Marubeni to Acquire 49% Interest in Gulfstar One from Williams Partners: Part of Marubeni´s Plan to Boost its Presence in Oil and Gas Infrastructure Projects - Deal Analysis - Marubeni Corporation (Marubeni) agreed to acquire a 49% stake in Gulfstar One, LLC (Gulfstar), a company engaged in the construction of a floating production platform at the offshore Tubular Bells field (Gulfstar FPS project), from Williams Partners L.P. (Williams Partners). As per the terms of the agreement, upon completion of the acquisition, Marubeni will contribute approximately US$225 MM to fund the capital expenditures of the project, followed by monthly capital contributions representing its 49% interest.

Gulfstar FPS is Williams Partners´ proprietary Floating Production System (FPS). The initial Gulfstar FPS, expected to be

 

 

operational in Q1 2014, will support multiple agreements with Hess Corporation and Chevron U.S.A Inc., through which production handling, the export pipeline, oil and gas gathering and gas processing services will be provided for the Tubular Bells field development, located in the eastern deepwater Gulf of Mexico. The Gulfstar FPS is expected to be capable of serving as a central host facility for other deepwater prospects in the area. The project cost of Gulfstar FPS is approximately US$1,000 MM. The acquisition is expected to be closed in Q2 2013.

Scope

- The report highlights the rationale behind Marubeni´s plan to acquire 49% interest in Gulfstar One from Williams Partners
- The report also describes key benefit to Williams Partners from the transaction.
- Geography Covered- US

Reasons to buy

- To understand the strategic intent behind Marubeni´s planned acquisition of 49% interest in Gulfstar One from Williams Partners
- To gain insight in to Williams Partners´ aims to gain flexibility in capital spending through the 49% stake sale to Marubeni

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