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TAQA to Acquire Oil and Gas Assets in the UK Central North Sea from BP

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2013-01-07 15:42:05 - US$1.06 Billion Deal to Expand its Operations in the Region - Deal Analysis from GlobalData

Abu Dhabi National Energy Company PJSC (TAQA) agreed to acquire oil and gas assets in the UK Central North Sea, from BP p.l.c. (BP) for a purchase consideration of approximately US$1,058MM. TAQA also expects to receive certain potential contingent payments of up to US$250MM. The contingent payments are dependent on oil price and production. TAQA intends to fund the acquisition from its existing operating cash flow and credit lines. Jefferies Group, Inc. is acting as financial advisor to BP, while Evercore Partners Inc. is acting as financial advisor to TAQA in the transaction. The transaction is expected to be completed in the second quarter of 2013, subject to the satisfaction of pre-emption rights as well as government and certain third

party approvals.

Full Report Details at
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* Rationale behind TAQA acquiring oil and gas assets in the UK Central North Sea from BP.
* To understand BP's divestment of matured assets in the North Sea to focus on smaller number of high value assets.
* Geography Covered- UK.

Reasons to buy

* To know about how the acquisition will enable TAQA to expand its operations in the UK North Sea.
* To learn about TAQA's attraction for the matured UK North Sea assets of BP.
* To develop a sound understanding about how the deal will increase TAQA's global production by around 16%.

Report Table of Contents:

1 Table of Contents
1 Table of Contents
1.1 List of Tables
1.2 List of Figures
2 TAQA to Acquire Oil and Gas Assets in the UK Central North Sea from BP for US$1.06 Billion
2.1 Deal Overview
2.2 Deal in Brief
2.3 Acquisition Enables TAQA to Expand its Operations in the UK North Sea
2.4 BP Divests Matured Assets in North Sea to Focus on Smaller Number of High Value Assets
2.5 Deal Financials and Valuations
3 Appendix
3.1 Sources
3.2 Methodology
3.3 Contact Us
3.4 Disclaimer

List of Tables

1.1 List of Tables
Table 1: UK, North Sea, Major Assets of BP acquired by TAQA, Decline in Production from their Peak levels, 2011
Table 2: BP, Major Divestment of Matured Assets and Investment in Potential Assets, January 2012 to Present
Table 3: Companies Involved
Table 4: Financials of the Deal
Table 5: Advisor Information
Table 6: Target Information
Table 7: Target's Production and Reserves Information
Table 8: Company Valuation Multiples
Table 9: Commodity Prices (Last Close US$)
Table 10: Acquirer Information
Table 11: Vendor Information

List of Figures

1.2 List of Figures
Figure 1: TAQA, Increase in Production Due to the Acquisition, mbd, October 2012

About GlobalData

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About Fast Market Research

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Disclaimer: If you have any questions regarding information in these press releases please contact the company added in the press release. Please do not contact pr-inside. We will not be able to assist you. PR-inside disclaims contents contained in this release.
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