India ONGC, PetroVietnam still in talks for Bp asset

India’s state-run explorer ONGC (ONGC.BO: Quote) is still jointly working with PetroVietnam on acquiring BP Plc’s Vietnam assets, Oil Secretary S. Sundareshan said, which the London-listed firm has sold to its Russia joint venture TNK-BP.

India’s state-run explorer ONGC (ONGC.BO: Quote) is still jointly working with PetroVietnam on acquiring BP Plc’s Vietnam assets, Oil Secretary S. Sundareshan said, which the London-listed firm has sold to its Russia joint venture TNK-BP.

“We will work jointly with PetroVietnam. We understand they have sold their stake to one of their affiliates after that we have asked ONGC Videsh to get in touch with PetroVietnam,” he said.

Vietnamese state oil group PetroVietnam last week said it still has the option to buy BP’s stake in the project.

ONGC has a 45% share in Block 6.1 in the Nam Con Son basin, off Vietnam’s southeast coast.- Reuters

Tags: Bp asset, India ONGC, PetroVietnam

Posted by VBN on Oct 29 2010. Filed under Oil-Gas & Petroleum. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry