FlowStream Announces Cooperation Agreement With BP
February 25, 2014
ST. HELIER, JERSEY AND LONDON, ENGLAND, 25th FEBRUARY 2014
FlowStream Commodities Ltd (“FlowStream”) is pleased to announce that it has entered into an agreement to cooperate on streaming, offtake and hedging opportunities with BP Oil International Limited (“BP”).
The key highlights of the agreement are that:
- BP has chosen FlowStream to be its preferred partner to deploy streaming capital into third party producer situations where BP may be evaluating offtake opportunities
- FlowStream has selected BP as its preferred partner for providing offtake and hedging where FlowStream is deploying streaming capital and offtake and/or hedging might be available
Jan Laubjerg, Chief Executive Officer of FlowStream, commented:
“We are delighted to be announcing this agreement today. Through their pursuit of offtake, BP is involved in many third party situations where there is also a capital need by the company developing the oilfield (the “Producer”), for example to develop the specific project upon which offtake is being tendered. BP and FlowStream have identified a win-win-win situation whereby BP can take the oil, FlowStream can provide streaming capital to ensure the project is developed and the Producer gets world class offtake and the capital it needs to develop the project.”
The agreement is, at this stage, focused on oil and condensate opportunities in West Africa, North Africa, the North Sea and the Mediterranean.
Enquiries:
| FlowStream Commodities | Jan Laubjerg
Ben Iversen |
+41 41 763 56 52
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Notes to Editors
FlowStream Commodities is a streaming and royalty company focused on the oil & gas sector. FlowStream provides upfront capital for oil & gas companies and in return receives an oil and/or gas stream on a specific license, lease or field. FlowStream also acquires existing royalties in the oil & gas sector. FlowStream is effectively a non-operating oil & gas company that does not need to fund capex or opex obligations. FlowStream, with the support of its shareholders, which include KKR, Global Gate Capital and Anglo Pacific Group, intends to grow and diversify its portfolio of streams and royalties by sourcing primarily development and producing assets on a worldwide basis. For more information, please visit flowstreamcommodities.com