January 2009

Deloitte India Financial Advisory

A valuable association for the
oil & gas industry
2
3 Introduction

4 Focus on oil and gas

5 Corporate nance

6 M&A transaction services

7 Business valuation

8 Reorganisation services

9 Forensic and dispute services

10 Client service model

11 Contacts
Contents
January 2009 3
Deloitte India Financial Advisory (FA) offers
comprehensive set of advisory and fund raising services
across major industry verticals on a global scale, making
us an advisor of choice. Energy & Resources (E&R)
happens to be a major sector focus area for our services
across the globe and oil & gas industry occupies a place
of prime importance within E&R.
Over the years, our organisation has developed deep
rooted understanding of the oil & gas sector and holds
impeccable credentials of delivering high level services
in areas of transaction advisory, mergers & acquisitions,
due diligence, valuation, preparation of business
plan, restructuring, strategy formulation and strategy
evaluation.
Our clients include oil & gas companies across the
spectrum including national oil majors, international
oil companies, large and medium private companies,
petroleum regulatory bodies, government departments
and institutions dealing with oil & gas industry. Our
world class capability and extensive experience in
rendering services to oil & gas industry is well recognised
by our clients.
Introduction
4
Focus on oil & gas
Oil & gas practice, as a leading industry group within
Deloitte E&R, has a team of dedicated professionals
located in each of the worlds signicant oil and gas
hubs. The oil & gas team India is an attractive mix of
industry and service practitioner offering one stop
solutions for all FA needs of a client delivered to their
utmost satisfaction. Our services to oil & gas clients are
delivered aligned to their specic internal and external
requirements.
Deloitte has more than 300 oil and gas sector clients,
and has consistently been recognised by analysts,
including Emerson and Gartner, as a leading rm in
the sector. Deloitte has over 3,000 staff specialising in
the oil and gas sector world wide. Petroleum Services
Group (PSG), one of the worlds leading decision
and transaction support groups in upstream and
downstream sectors, is a key part of Deloittes overall
global energy practice.
Financial advisory
Corporate nance Reorganisation
services
Valuation services Forensic & dispute
services
Global transaction services
Corporate nance
advisory
Advising
underperforming
Business valuation Litigation & arbitration Financial and tax due diligence of
potential transaction targets
Strategic and general
corporate advice
Assisting nancial
stakeholders
Intangible asset
valuation
Forensic investigations Tax/accounting deal structuring
Business modeling Turnaround
management
Dispute resolution
support
Intellectual property Purchase price and nancing
agreement review
Feasibility analysis Exit management Fairness opinions
(exclusively outside of
the U.S.)
Securities litigation Transaction closing and funds ow
Mergers &
acquisitions
Insolvency & bankruptcy
services
Specialised services
(including nancial
modeling)
Analytic & forensic
technology
Sales or divestiture Insurance Business intelligence
services
Capital raising -
equity and debt (PE
and capital markets)
Business insurance
consulting
Project nance Economic consulting
Public private
partnerships
Anti-money laundering
Deloitte India has a strong team of 25 professionals
who have extensive sectoral exposure and relevant work
experience offering services across entire spectrum of
FA, as depicted in map below. These professionals have
worked with almost all the major oil & gas companies
present in India across upstream, mid-stream and
downstream seamlessly executing assignments over
entire value chain. Deloitte India has also been an active
thought agent for the sector in India by providing
knowledge support to various interactive meets for the
industry players including regulators.
4
January 2009 5
Corporate finance
Corporate nance decisions are increasingly becoming
important for the global oil and gas sector deals in
the context of increasing geo-political and economic
uncertainties. As mergers and acquisitions in the
energy domain acquire strategic dimensions both from
an economic and long term political perspective, its
imperative that companies make sound M&A decisions
to maintain their competitiveness.
Deloitte FA brings its domain knowledge and critical
analytical capabilities to the services of its clients to
facilitate decision making in respect of corporate
nance issues. These issues pertain to diverse areas
of mergers and acquisitions, joint venture formations,
business modeling and feasibility analysis, fund raising
(equity capital, mezzanine & debt), strategic and general
corporate advice, revival strategies, strategy and policy
formulation, business planning etc.
Deloitte India is currently an empanelled advisor for
nancial appraisal of all oil & gas projects to be executed
by a leading oil & gas company of India and has already
appraised projects with estimated total capital outlay
of more than USD 2 billion. Our organisation has
successfully advised several energy clients in business
modeling, revival strategy and business planning leading
Deloitte also has strong relationships with
major Indian oil and gas public sector
enterprises, along with private equity funds
focused on the energy sector.
to superior client appreciation of value delivered. As part
of our holistic service approach, we utilise our internal
expertise and thought leadership on global energy
dynamics to develop an independent strategic rationale
for each mandate keeping it aligned to the parameters
laid down by the client. We understand the risks and
variables associated with an oil and gas project, and
use this understanding to carry out project-specic
appraisals and feasibility analysis by running the most
suitable sensitivities.
Deloitte India also has strong relationships with major
Indian oil and gas public sector enterprises along with
private equity funds focused on the energy sector. Our
extensive industry network forms the bedrock for our
M&A initiatives, in identifying most suitable potential
joint venture partners and arranging funds for energy
projects and companies.
Our organisation is well recognised as a key advisor
for both buy and sells sides M&A mandates. We have
provided buy side advisory support to almost all the
national oil companies for acquisition of overseas assets
as well as companies located in all major geographies.
Such assets in past included oil & gas elds, liquefaction
plants, reneries, distribution networks etc.
6 6
M&A transaction services
Sell side services Buy side services
World class
Truly
differentiating
Sale mandates
Vendor DD
Vendor assist
Acquisition DD
Debt advisory
Forensic investigation
Tax
Accounting
Private equity
Commercial DD
Modeling
Sales & purchase
agreement advice
IT DD & infrastructure
Valuation
Post merger integration
Real estate advice
Competition and
regulatory analysis
Carve out
Working capital
reduction
Cost savings
Industry & commercial insight
Deloittes M&A Transaction Services (TS) team consists
of professionals dedicated to provide due diligence
support to M&A deals. Based out of multiple locations
throughout India, the team also draws on the specialist
nation-wide resources of Deloitte in India, as needed, to
provide seamless client service.
M&A Spectrum of services and methodology
M&A transaction services
M&A services-not just due diligence
We will build an M&A team to suit your needs and those of each transaction
Deloittes M&A capability is dened by its ability to
deliver an integrated team of oil & gas specialists of
proven expertise and focused on deal execution. The
global network of specialist teams covers a wide range
of disciplines and these functional specialists, coupled
with Deloitte industry teams, provide a centrally
coordinated multi-disciplinary team capable of delivering
real value to your transaction process.
January 2009 7
Business valuation
Deloittes business valuation team provides valuation
services across the following domains:
Swap ratio for mergers/demergers
Acquisition related valuations
Valuation for privatisations
Valuation for regulatory purposes (Income Tax,
FEMA, SEBI)
Purchase price allocation (Indian GAAP, IFRS,
US GAAP)
Intangibles valuation
Financial modeling
Internal fair value specialist (Audit support)
Valuation for dispute resolution
Valuation for testing impairment
Venture funds/private equity funds
Deloitte follows an interactive approach for carrying
out the valuation, wherein we involve the client at
each stage of the valuation process. We apply globally
accepted methods of valuation for determining the
value of shares/business. These include:
Asset based
Earnings based
Market price based methodologies
We utilise our in-depth understanding of the complete
oil and gas value chain to select the most suitable
methodology for each case. We understand the
intricacies of oil and gas valuations and therefore,
Deloitte ensures not to use the one-size ts all
approach. In recognition of our excellent service
capabilities, we have been engaged in past by both
public sector and private sector oil & gas companies
for determination of swap ratios for merger of group
entities.
We understand the intricacies of
oil and gas valuations and
therefore, Deloitte ensures not to
use the one-size fts all
approach.
8 8
Deloittes reorganisation services team provides services
across the following domains:
Business viability review
Compliance related services
Buy side single asset advisory
Single asset resolution service Sell side
NPA portfolio resolution services Sell side
Buy side portfolio advisory
Reorganisation services
January 2009 9
Forensic & dispute services
Deloittes Forensic and Dispute (F&D) services team
provides services across the following domains:
Forensic accounting and corporate investigation
Anti-money laundering consulting
Analytic forensic technology
Business intelligence services
Litigation and dispute consulting including buy-sell
dispute, purchase price dispute, intellectual property
litigation, business insurance claims etc.
F&D services assume even more importance in the
oil and gas sector as the industry acquires increasing
geo-political signicance globally. Most mergers and
acquisitions in the sector involve high transaction values
and therefore, these services become signicant in
ensuring the sanctity of these transactions.
Deloitte utilises its diverse industry experience and
rigorous quality procedures to provide forensic and
dispute services of the highest quality.
Deep nancial
acumen
Forensic
Forensic accounting &
corporate investigation
Anti-money laundering
consulting
Analytic forensic
technology
Dispute services
Litigation and dispute
consulting
Buy-sell dispute
Purchase price dispute
Intellectual property
litigation
Business insurance
claims etc.
Robust industry
experience
Cutting-edge
technology
Rigorous
quality control
procedures
Forensic and dispute services framework
We have six primary service lines effectively falling into two categories:
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Our client service model
Deloitte strives to maintain a close t between its service
offerings and the clients service requirements. Some key
features of our client service model include:
Eminence in serving large public companies
Eminence in thought leadership
Strong culture of consultation
A top-quality, multidisciplinary team
Continuous interaction
Balanced and effective relationship
Continuous, proactive communication among all
parties
Clearly dened expectations
Respect and cooperation
Open access to client service partner
Client
centered
Lead client
service partner
Industry-
experienced,
multi-disciplinary
team
Client service
assessment
Industry-
focused thought
leadership and
best practices
Our unique client service model ensures that our services
are closely aligned with the clients expectations, and
that there is a common understanding of the risks,
opportunities and challenges associated with the
project at hand. This ensures that we deliver the most
customised and timely advice to the client.
Our client service model
January 2009 11
Contacts
Sanjay Kaul
Senior Director
Energy and Resources (Delhi/Gurgaon)
Mob: +91 98737 74444
Tel.: +91 (124) 679 2000
Email: sakaul@deloitte.com
Kalpana Jain
Senior Director
Energy and Resources (Delhi/Gurgaon)
Tel.: +91 (124) 679 2000
Email: kajain@deloitte.com
Sameer Bhatia
Leader
Energy and Resources (Mumbai)
Tel.: + 91 (22) 6667 9000
Email: sambhatia@deloitte.com
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