Statoil to Acquire 35% Interest in Deepwater Tano/Cape Three Points License in Offshore Ghana from Hess to Gain Early Entry in an Emerging Hydrocarbon Region - Deal Analysis from GlobalData
Statoil ASA (Statoil), agreed to acquire 35% working interest in the Deepwater Tano/Cape Three Points (DWT/CTP) license (Tano) located in offshore Ghana from Hess Corporation (Hess). Following the acquisition, Hess will hold 55% interest, Statoil will hold 35% working interest, and Ghana National Petroleum Corporation will hold the remaining 10% interest in the Ghana license. The transaction will be effective from January 1, 2012 and is subject to final approval by the Ghanaian authorities.
Rationale behind the acquisition of Deepwater Tano/Cape Three Points from Hess by Statoil
Stratigic benefits for the companies involved in the transaction
Geography covered - Ghana
Reasons to buy
Develop a sound understanding of the major M&A's, Partnerships, and Joint Ventures undertaken by Statoil. Rationale behind the acquisition of Deepwater Tano/Cape Three Points by Statoil.
Identify the reason of acquisition of the asset by Statoil.