Asset Divestment – Netherlands Gas Storage and Upstream Opportunity
Dyas B.V. (“Dyas”) has retained Tristone Capital Limited as exclusive advisor for the sale of its interest in an asset package offshore and onshore the Netherlands. The package comprises a significant gas storage project, producing gas assets and an oil re-development project:
• Bergermeer Gas Storage
• Onshore Bergen Concession (excl. the Alkmaar Peak Gas Installation)
• Markham / J3- C Units
• Offshore P15/P18 Licences (incl. the Rijn Oil Field re-development)
This divestment provides an opportunity to enter the Dutch E&P sector with a diverse asset package in the highly prolific Southern Gas Basin or to acquire an accretive package to grow an existing position.
The package offers immediate cash-flow through gas sales and third party tariff income which is expected to increase through a significant oil re-development.
In addition it offers the opportunity to participate in a major gas storage development located in the vicinity of gas transportation infrastructure.
The 2008 mid year net gas production for the package is 225 103Nm3/d, with associated condensate production. An additional 200 m3/d oil production is forecast for 2009 with the start up of the Rijn Oil Field re-development. The operators of the asset base, TAQA, Venture Production and Total, are active and committed to the Dutch sector of the North Sea.
Dyas prefers offers for the entire package but will also consider offers for one or more of the following four asset groups: the Markham/J3-C Units, the P15/P18 Licences, the Bergen Concession, and the Bergermeer Gas Storage project.
A Confidential Memorandum will be available upon request, following execution of the Confidentiality Agreement.
The data rooms will open early October 2008. Bids are due 28 November 2008.
For further information please contact:
| Mark Llamas Managing Director, Acquisitions & Divestments Tel: +44 (0) 207-355-5874 Email: mllamas@tristonecapital.com |
Rolf Bakker Director, Acquisitions & Divestments Tel: +44 (0) 207-355-5875 Email: rbakker@tristonecapital.com |
| Mohammed Chunara Associate, Acquisitions & Divestments Tel: +44 (0) 207-355-5880 Email: mchunara@tristonecapital.com |
Scott Urquhart Associate, Acquisitions & Divestments Tel: +44 (0) 207-355-5881 Email: surquhart@tristonecapital.com |
