Russia’s third largest oil and gas company TNK-BP announced on October 18 that the company had reached an agreement to buy assets worth about 1.8 billion USD from British oil company BP in Vietnam and Venezuela.
The deal is part of a series of sales BP is making to help pay for oil spill damages in the Gulf of Mexico. It will be financed entirely by TNK-BP, which is owned 50-50 by BP and a group of Russian tycoons.
Under the deal, in Venezuela, TNK-BP will buy BP’s 16.7 percent stake of PetroMonagas SA and 26.7 percent stake of Boqueron SA.
In Vietnam, the company will acquire BP’s 35 percent of stake in a upstream offshore gas project including Lan Tay and Lan Do gas fields, a 32.7 percent stake in Nam Con Son Pipeline and Terminal, and a 33.3 percent stake in Phu My 3 power plant.
“The acquisitions in Venezuela and Vietnam mark a milestone in TNK-BP's strategic expansion in the global energy market,” TNK-BP CEO Mikhail Fridman said. He also expressed his company’s interest in buying BP assets in Algeria./.
The deal is part of a series of sales BP is making to help pay for oil spill damages in the Gulf of Mexico. It will be financed entirely by TNK-BP, which is owned 50-50 by BP and a group of Russian tycoons.
Under the deal, in Venezuela, TNK-BP will buy BP’s 16.7 percent stake of PetroMonagas SA and 26.7 percent stake of Boqueron SA.
In Vietnam, the company will acquire BP’s 35 percent of stake in a upstream offshore gas project including Lan Tay and Lan Do gas fields, a 32.7 percent stake in Nam Con Son Pipeline and Terminal, and a 33.3 percent stake in Phu My 3 power plant.
“The acquisitions in Venezuela and Vietnam mark a milestone in TNK-BP's strategic expansion in the global energy market,” TNK-BP CEO Mikhail Fridman said. He also expressed his company’s interest in buying BP assets in Algeria./.
