Information on the Target

Cepsa, a prominent energy company, has made a significant move as part of its ongoing strategy to lead the energy transition in Europe. The company has entered into an agreement with TotalEnergies to divest its Exploration and Production (E&P) business in the United Arab Emirates. This divestiture includes the transfer of Cepsa’s 20% interest in the Satah Al Razboot and Umm Lulu fields, as well as an indirect 12.88% stake in the Mubarraz Concession through the sale of its shares in Cosmo Abu Dhabi Energy Exploration & Production Co. Ltd.

The agreement is structured into two main components: the Satah Al Razboot and Umm Lulu Transaction, and the Mubarraz Transaction. Both transactions are designed to enhance Cepsa’s operational focus and align with its ambitious goals for sustainability and innovation in the energy sector.

Industry Overview in the UAE

The energy sector in the United Arab Emirates (UAE) is characterized by a rich abundance of hydrocarbon resources, positioning the country as a key player in the global oil and gas market. The UAE government has made significant investments