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ConocoPhillips Plans to Sell Nigerian Assets as part of Global Restructuring Plan - Deal Analysis from GlobalData

ConocoPhillips Plans to Sell Nigerian Assets as part of Global Restructuring Plan - Deal Analysis from GlobalData

Table of Contents

Market Briefing
Published: May 2012
Pages: 11
Tables: For full details, please email deborahf@cmsinfo.com
From: GBP 312.50  Buy Now!
Research from: GlobalData
Sector: Oil & Gas

ConocoPhillips Plans to Sell Nigerian Assets as part of Global Restructuring Plan - Deal Analysis from GlobalData

Summary

ConocoPhillips intends to sell all of its Nigerian assets including onshore and offshore oil and gas fields and its stake in the LNG Brass facility. The transaction is expected to be valued at approximately $2.5 billion.

BNP Paribas SA is acting as advisor to ConocoPhillips for the divestment of assets.

ConocoPhillips Plans to Sell Nigeria Assets as Part of its Global Restructuring Plan

ConocoPhillips plans to divest its assets in Nigeria as part of its three year (2010?2012) strategic global business restructuring plan. The company?s restructuring plan is aimed at optimizing its oil and gas assets portfolio in order to increase its business returns and financial flexibility. The company plans to divest its low revenue generating non-strategic assets and to sell relatively smaller ventures and those which do not fall within its core business of Exploration and Production (E&P). The company?s Nigerian assets, where it holds minority stakes (17?20%), qualify as a target for divestment as per the outline of its restructuring plan.

Scope

- Rationale behind ConocoPhillips Selling its Assets in Nigeria
- Stratigic benefits for the companies involved in the transaction
- Geography covered - Nigeria

Reasons to buy

- Develop a sound understanding of the major M&A's, Partnerships, and Joint Ventures undertaken by ETP. Rationale behind ETP's acquisition of Sunoco.
- Plan to acquire assets and to capitalise opportunites taking place in the pipeline market
- Identify the reason behind ETP's rationale behind acquisition of Sunoco and mutual benifit to the investors of teh company.

Keywords

Restructuring plan, divestment, investment, Vietnam, Libya, Algeria, Kazakhstan, Buyback

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