Udenna thanks RISC for role as Independent Technical Advisor on the acquisition of Chevron’s 45% interest in Malampaya

RISC were engaged by Udenna Corporation (Udenna) as the Independent Technical Advisor to carry out technical due diligence on Chevron’s interests in the Malampaya gas field. On 25 October 2019 Udenna announced the successful acquisition of Chevron’s 45% stake in Malampaya, offshore Palawan, Philippines. RISC provided advice in the form of technical due diligence and independent reserve assessment. The value of the transaction has not been disclosed.

Udenna had this to say  about RISC’s involvement upon the announcement of the deal:

“Many thanks for all your support without which we would not have been at this stage!! Really fantastic work. Udenna are proud to be associated with RISC .”

The Malampaya gas field is an energy asset of significant national importance, being the Philippines’ largest and only commercially producing gas field. For over two decades, Malampaya has been the cornerstone of the country’s gas industry and continues to service about 20% of the national demand for electricity. “The acquisition of Chevron’s interest in the Malampaya gas field marks an important milestone for Udenna, fitting strategically with our long-term ambitions of developing a sustainable clean energy business in the Philippines,” Udenna CEO and Chairman Dennis Uy said in a statement.

To view the full announcement via Udenna’s website, please click here.

RISC has an extensive track record of providing acquisition due diligence for clients to support their proposed transactions. Over the last 5 years we have advised on successful transactions with a total value of over A$17 billion.

RISC was also the technical advisor to Santos on their recent acquisition of ConocoPhillips’ northern Australia interests and their successful takeover of Quadrant Energy in 2018.

To find out how we can help you please visit the Capabilities page of our website or contact us on +61 8 9420 6660 or admin@riscadvisory.com.