“Afren to Acquire 60% Interest in Barda Rash PSC from Komet Group – The Deal Marks Afren’s Entry into Kurdistan – Deal Analysis From GlobalData
Afren plc (Afren) has agreed to acquire 60% participating interest in Barda Rash PSC in the north west of Erbil in Iraq from Komet Group S.A. (Komet) for a purchase consideration of $418.75m in cash. Following the acquisition, Afren will own 60% interest, and Komet Group and The Kurdistan Regional Government (KRG) will own 20% interest each in the Barda Rash. The transaction implies deal values of $10,657.99 per acre of land and $0.47 per boe (barrel of oil equivalent) of recoverable reserves.
– Rationale behind Afren acquiring interest in Barda Rash 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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