Thai company may bid for BP Vietnam assets

Thailand’s PTT Exploration and Production PCL may be considering a bid for BP’s Vietnam assets, which include a gas field, a pipeline, and a power plant

Thailand’s PTT Exploration and Production PCL may be considering a bid for BP’s Vietnam assets, which include a gas field, a pipeline, and a power plant.

BP said last month it would sell its stake in the Nam Con Son gas field as part of its plan to sell $30 billion in assets over the next 18 months to raise cash to pay for the Gulf of Mexico oil spill.

BP holds a 35% stake in the block, which it operates. India’s Oil & Natural Gas Corp. owns 45%, while PetroVietnam owns the remaining 20%, according to the Wall Street Journal.

Oil & Natural Gas and PetroVietnam are reportedly interested in the BP asssets as well. A recent UBS note says BP’s Vietnam assets are worth $966 million.

Tags: BP assets in Vietnam, BP Vietnam

Posted by VBN on Aug 13 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