Norwegian Energy To Sell Its Interest In Norwegian Oil Fields Oselvar And Enoch To Marubeni: An Opportunity For Marubeni To Enter Norwegian North Sea

Pages: 6 Published: February 01, 2011 Report Code: GDGE0280MA

Norwegian Energy Company ASA (Noreco) signed an agreement to sell its shares in the Norwegian oil fields Oselvar and Enoch to Marubeni Corporation (Marubeni) for a sale consideration of $43m net of tax. The transaction is subject to approval by the Norwegian authorities. The transaction implies deal values of $7.96 per boe of proved reserves and $5.12 per boe of proved and probable reserves.

Scope

Rationale behind Norwegian Energy selling its Oselvar and Enoch fields,

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 Oil & Gas 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

Table of Contents

1 Table of Contents 1

1.1 List of Tables 1

1.2 List of Figures 1

2 Norwegian Energy To Sell Its Interest In Norwegian Oil Fields Oselvar And Enoch To Marubeni 1

2.1 Deal Overview 1

2.2 Deal in Brief 1

2.3 Noreco is Divesting its Stake in Oselvar And Enoch Fields as Part of its Business Strategy to Pursue New Value Creating Activities 1

2.4 Marubeni Intends to Enter Norwegian North Sea Region Through the Current Deal 2

2.5 Marubeni has Not Yet Fulfilled the Requirements Mandatory to Operate In Norwegian Continental Shelf 3

2.6 Noreco – Marubeni Deal is Under-Priced As Compared to Other E&P Asset Transactions in Norway in 2010 3

2.7 Deal Financials and Valuations 4

3 Appendix 5

3.1 Methodology 5

3.2 Contact Us 6

3.3 Disclaimer 6

List of Tables

Table 1: Oselvar and Enoch oil and gas fields, Asset Details 2

Table 2: Norway, E&P Asset Transactions and Acquisitions Details, 2009-2010 3

Table 3: Companies Involved 4

Table 4: Financials of the Deal 4

Table 5: Target Information 4

Table 6: Target’s Production and Reserves Information 4

Table 7: Company Valuation Multiples 4

Table 8: Commodity Prices in $, Last Close 4

Table 9: Acquirer Information 4

Table 10: Vendor Information 5

List of Figures

Figure 1: Oselvar and Enoch Oil and Gas Fields, Location Map 2

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