One-Page Deal Sheet
Noble to Farm Out Stake in Aphrodite Discovery Offshore Cyprus
BG Group Noble Energy, Inc.
Announced Date
November 23,2015
Effective Date
April 01,2015
Close Date
January 27,2016
Transaction Type
Farm-In/Farm Out
Enterprise Value (EV)($MM)
165
Asset/Basin:
{"Eastern Mediterranean"}
Location
Region
Offshore,Mediterranean/N. Africa
Country
Cyprus
Transaction Details: Subscribe to see
Noble Energy, Inc. announced a farm-out agreement for a portion of its interest in Block 12 offshore Cyprus with BG International. BG is acquiring a 35 percent interest in Block 12, which includes the Aphrodite natural gas discovery, for total cash consideration of $165 million. Aphrodite, discovered in 2011, has gross mean natural gas resources of approximately four trillion cubic feet. The transaction has an effective date of April 1, 2015, and is expected to close before the end of 2015. Noble Energy will maintain operatorship of Block 12 with a 35 percent interest.
J. Keith Elliott, Noble…
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