M&A Deal Summary

Mitsui E&P Australia Pty Acquires Kipper Gas Field

On March 3, 2016, Mitsui E&P Australia Pty acquired oil/gas exploration company Kipper Gas Field from Santos for 520M USD

Acquisition Highlights
  • This is Mitsui E&P Australia Pty’s 1st transaction in the Oil/Gas Exploration sector.
  • This is Mitsui E&P Australia Pty’s largest (disclosed) transaction.
  • This is Mitsui E&P Australia Pty’s 1st transaction in Australia.

M&A Deal Summary
Date 2016-03-03
Target Kipper Gas Field
Sector Oil/Gas Exploration
Buyer(s) Mitsui E&P Australia Pty
Sellers(s) Santos
Deal Type Divestiture
Deal Value 520M USD

Target

Kipper Gas Field

Australia
Kipper Gas Field is a provider of gas exploration and production services. The field holds over 620 billion cubic feet of recoverable gas and 30 million barrels of condensate and liquefied petroleum gas (LPG) reserves.

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Buyer(S) 1

Buyer

Mitsui E&P Australia Pty

Perth, Australia
Category Company
Founded 2004
Sector Oil/Gas Exploration
Employees31
DESCRIPTION

Mitsui E&P Australia Pty Ltd. operate as regional headquarters for Mitsui’s oil and gas exploration and production business in Australia, New Zealand, Papua New Guinea and East Timor. Company has four producing oil and gas assets in Australia and two in New Zealand. The company also has interests in 28 projects that are in the exploration and development stages.

DEAL STATS #
Overall 1 of 1
Sector (Oil/Gas Exploration) 1 of 1
Type (Divestiture) 1 of 1
Country (Australia) 1 of 1
Year (2016) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

Santos

Adelaide, Australia
Category Company
Founded 1954
Sector Oil/Gas Exploration
Employees3,864
Revenue 5.9B USD (2023)
DESCRIPTION

Santos is an oil and gas producer, supplying Australian and Asian customers. With its origins in the Cooper Basin, Santos is one of Australia’s major producers of gas to the domestic market and has the largest exploration and production acreage position in Australia of any company. Santos was founded in 1954 and is based in Adelaide, Australia.

DEAL STATS #
Overall 1 of 1
Sector (Oil/Gas Exploration) 1 of 1
Type (Divestiture) 1 of 1
Country (Australia) 1 of 1
Year (2016) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-11-25 AWE - Northwest Natuna PSC

Indonesia

AWE Limited, Northwest Natuna PSC comprises Ande Ande Lumut oil field with approximate capacity of 100 million barrels of oil.

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FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-17 Oil Search

Port Moresby, Papua New Guinea

Oil Search is an oil and gas exploration and development company. Oil Search is involved in a range of exploration and appraisal activities in PNG, primarily aimed at aggregating additional gas reserves, to underpin a potential expansion of the PNG LNG Project as well as further LNG development in PNG. Oil Search was founded in 1929 and is based in Port Moresby, Papua New Guinea.

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