EXPLORATION

Statoil cleans up Vietnam portfolio

Norwegian-based Statoil's plans to exit Vietnam are continuing apace after the company announced ...

Government authorities in Vietnam have approved the transfer of Statoil's shares in Blocks 06-1(13.33%) and 05-2 (33.3%) in the Nam Con Son Basin to BP and other partners.

Following the purchase, BP's 26.67 per cent share in Block 06-1 and 66.7% share in Block 05-2 have now risen to 35% and 100% respectively. Block 06-1 hosts the Lan Tay and Lan Do gas discoveries and is being developed as part of the Nam Con Son gas utilisation project by a consortium of companies.

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