(Originally published on April 25, 2024) In July 2023, Prima Energi acquired 100% interest in the Northwest Natuna PSC from Mitsui & Co. Since acquiring the PSC, Prima Energi have been progressing options to develop the Ande Ande Lumut (AAL) heavy oil field and, in early-April, they launched tenders for
M&A - Quarterly - Australasia
(Originally published on April 1, 2024) It has been a busy Q1 in Australasia, with seven new deals announced in the quarter. However, the biggest news was about a potential deal being cancelled: * In early December 2023, Woodside Energy and Santos confirmed that they were in discussions about a potential
M&A - Quarterly - Southeast Asia
(Originally published on April 1, 2024) Q1 has been quiet in terms of deal count with two new deals announced in Southeast Asia, one in Malaysia and one in Vietnam. A transaction value was only announced for one of the deals, with a deal value of about US $903 million.
(Originally published on March 5, 2024) For Vietnam, I will cover the issues and company landscape in a single article. A number of the legacy issues and changes covered in my article from 12 months ago: https://www.linkedin.com/pulse/2023-ma-opportunities-southeast-asia-part-5-vietnam-robert-chambers. Main 2023 updates For the majority of 2023,
M&A - Deal analysis
(Originally published on February 23, 2024) Today, Woodside Energy have announced that they have entered into a binding sale and purchase agreement to divest a 15.1% stake in the Scarborough project to JERA. The deal has an effective date of 1 January 2022 (essentially from FID) and is expected
(Originally published on February 13, 2024) For Thailand, I will cover the issues and company landscape in a single article, with a number of the legacy issues and changes covered in my article from 12 months ago: https://www.linkedin.com/pulse/2023-ma-opportunities-southeast-asia-part-4-thailand-robert-chambers/. For this article, I will start by
(Originally published on February 6, 2024) In this second article focusing on Malaysia, I will take a look upstream company landscape, starting with a quick review of the M&A deals in 2023 and then going through the companies that are currently involved, with the focus being on the
(Originally published on February 2, 2024) Since COVID, Malaysia has become a bit of a poster child, not only for the region but across the global upstream industry, for how governments, regulators and industry can work collaboratively to achieve mutually beneficial outcomes. This is the first of two articles looking
M&A - Deal analysis
(Originally published on January 31, 2024) Earlier today, TotalEnergies announced that they have agreed to acquire OMV's 50% interest in SapuraOMV. The transaction is for a consideration of US$ 903 million (including the transfer of a US$ 350 million loan granted by OMV to SapuraOMV) and is subject
(Originally published on January 24, 2024) Yesterday saw the launch of 2024 Malaysia Bid Round, along with announcements of the awards from the 2023 bid round. Here are is my initial analysis and I will add more details as I find them. MBR 2023 - Awards The 2023 bid round
(Originally published on January 23, 2024) Following on from my two previous articles looking at Indonesia, this third article will take a look at some of the things to look out for in 2024, with a focus on the positive decisions that need to be made to continue the momentum
(Originally published on January 9, 2024) The last couple of years have seen a much more positive sentiment to upstream investors in Indonesia, and this has been followed-up with some positive actions. However, it is not all sunshine and rainbows, and some of the past issues continue to provide caution