“Afren To Acquire 20% Interest In Ain Sifni Production Sharing Contract – The Agreement with KRG to Allow Afren’s Entry into Iraq – Deal Analysis From GlobalData
Afren plc (Afren) agreed to acquire a non-operated 20% participating interest in Ain Sifni production sharing contract (PSC) in Iraq from the Kurdistan Regional Government (KRG), for a purchase consideration of $169.5m in cash. The acquisition is consistent with Afren’s strategy to acquire low risk exploration inventory properties and to increase its 2P and 2C recoverable reserves base by over 700% at a cost of less than $1 per barrel. The transaction implies a deal value of $5,650.26 per acre of land and $20.18 per boe of recoverable resources.
– Rationale behind Afren acquiring interest in Ain Sifni PSC
– Strategic benefits for the companies involved,
– Geography covered -Iraq
Reasons to buy
– Develop a sound understanding of the major M&A’s, Partnerships, and Joint Ventures taking place in Kurdistan oil and gas industry,
– Identify the most lucrative segments to leverage on the growth oppurtunities available in the Iraq’s oil & gas market,
– Get a detailed analysis of a deal to enable you to take better decisions.”
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